医药生物：上游有可能迎来拐点吗？【创新药大牛市】分支思路(九)【周专题&周观点】【总第403期】

请仔细阅读本报告末页声明增持（维持）行业走势作者分析师张金洋执业证书编号：S0680519010001邮箱：zhangjinyang@gszq.com分析师杨芳执业证书编号：S0680522030002邮箱：yangfang@gszq.com分析师王震执业证书编号：S0680525040002邮箱：wangzhen1@gszq.com相关研究1、《医药生物：调整过后，“海外大药”逻辑仍是优选【创新药大牛市】分支思路(四)海外大药【周题&周观点】【总第402期】》2025-06-212、《医药生物：MNC账上还有多少钱？还有啥可能布局？【创新药大牛市】分支思路(一)中国超市更新【周题&周观点】【总第401期】》2025-06-153、《医药生物：【周题&周观点】【总第400期】创新药大牛市分支思路（五）—PD【（L）1 Plus成为海外药企必争之地——尤其重视信达PD1 IL2》2025-06-07-10%-2%6%14%22%30%2024-062024-102025-022025-06医药生物沪深300 P.2内容目录一、医药核心观点..................................................................................................................................3二、上游有可能迎来拐点吗？【创新药大牛市】分支思路(九)......................................................................5三、细分领域投资策略及思考..................................................................................................................73.1广义药品....................................................................................................................................73.1.1创新药..............................................................................................................................73.1.2仿制药..............................................................................................................................83.1.3中药...............................................................................................................................103.2医疗器械板块周度复盘.............................................................................................................113.3配套领域..................................................................................................................................143.3.1CXO................................................................................................................................143.3.2药店...............................................................................................................................153.3.3医药商业........................................................................................................................153.3.4医疗服务........................................................................................................................163.3.5生命科学产业链上游周度复盘...........................................................................................16四、医药行情回顾与热点追踪................................................................................................................184.1医药行业行情回顾.....................................................................................................................184.2医药行业热度追踪.....................................................................................................................214.3医药板块个股行情回顾..............................................................................................................23风险提示.............................................................................................................................................24图表目录图表1：2022年以来海外市场生物医药领域分月度投融资金额统计............................................................5图表2：2022年以来中国市场生物医药领域分月度投融资金额统计............................................................6图表3：当周（6.23-6.27）中证创新药指数VS.申万医药指数VS.沪深300指数指数对比..............................7图表4：2025年以来中证创新药指数VS.申万医药指数VS.沪深300指数走势对比(%).................................7图表5：2025年初以来仿制药板块VS.申万医药VS.化学制剂走势对比(%)..................................................8图表6：仿制药子领域周涨跌幅排名前5、后5个股.................................................................................9图表7：2025年以来申万医药指数VS.中药指数走势对比(%)..................................................................10图表8：图表9：2025年以来申万医药指数VS.医疗器械指数VS.医疗器械各子领域指数走势对比(%)..........11图表9：医疗设备子领域周涨跌幅排名前五、后五个股............................................................................11图表10：医疗耗材周涨跌幅排名前五、后五个股....................................................................................12图表11：体外诊断周涨跌幅排名前五、后五个股....................................................................................12图表12：本周医疗设备领域重要公告....................................................................................................13图表13：本周医疗耗材领域重要公告....................................................................................................13图表14：本周体外诊断领域重要公告....................................................................................................13图表15：申万医疗研发外包指数vs申万医药生物指数2025年以来走势对比............................................14图表16：生命科学产业链上游板块周涨跌幅排名前五、后五个股.............................................................16图表17：当周（6.23-6.27）申万医药VS.沪深300指数VS.创业板指数对比...........................................18图表18：2025年以来申万医药VS.沪深300指数VS.创业板指数走势对比（%）......................................18图表19：申万医药指数涨跌幅与其他行业涨跌幅对比（周对比，%）......................................................19图表20：申万医药指数涨跌幅与其他行业涨跌幅对比（2025年初至今，%）...........................................20图表21：申万医药各子行业近一周涨跌幅变化图（%）..........................................................................21图表22：申万医药各子行业2025年初至今涨跌幅变化图（%）....................................