醫藥生物行業週報：關注基藥目錄調整首推方盛製藥

開源證券

2025/09/28

回看歷史：政府多維度考慮羣衆需求，基藥目錄階段性「查漏補缺」我國1979 年成立國家基本藥物遴選小組，開始參與WHO 基本藥物行動計劃，1982 年公佈首版《國家基本藥物目錄》（NEML），並在2009 年之前先後對該目錄進行了5 次調整。2009 年4 月，國務院辦公廳發佈《關於深化醫藥衛生體制改革的意見》，標誌着正式啓動國家基本藥物制度建設工作，隨後發佈了三版NEML 目錄，分別是2009 版...

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版《國家基本藥物目錄》主要由説明、化學藥品和生物製品、中成藥、中藥飲片、索引等部分組成，在整體結構上與2012 版無較大差別。但在中成藥方面存在部分細分方向變動。例如，一級分類中新增兒科用藥，並在兒科用藥的二級分類中分別加入了解表劑、清熱劑、止咳劑、扶正劑、安神劑、消導劑。同時新增多種適合兒童使用的小規格製劑和沖服劑型、口服溶液劑等，表明國家對兒童這一特殊用藥人羣的重視。展望未來：基藥目錄調整呼聲提高，多類中藥產品有望被納入《國家基本藥物目錄》原則上3 年調整一次，但自2018 版基藥目錄出台後一直未曾調整，因此在2024 年的全國「兩會」中，有來自藥企、醫院等醫藥領域的全國人大代表提出加快基藥調整步伐，同時建議將慢性病用藥、國產創新藥等多類藥品納入新版基藥目錄中；近期2025 年的全國藥政工作會議等也紛紛提及基藥目錄更新需求，因此我們建議關注有望納入的中藥產品/企業，有望進一步打開業績成長空間。推薦及受益標的推薦標的：製藥及生物製品：恒瑞醫藥、華東醫藥、三生製藥、聯邦制藥、人福醫藥、恩華藥業、信達生物、再鼎醫藥、百利天恒、澤璟製藥-U、諾誠健華、科倫博泰生物-B、三生國健、康諾亞-B、一品紅、海思科、艾力斯、艾迪藥業、和黃醫藥、京新藥業、健康元、前沿生物；CXO：藥明康德、藥明合聯、藥明生物、美迪西、博騰股份、普蕊斯；科研服務：皓元醫藥、百普賽斯、畢得醫藥、昊帆生物、藥康生物、奧浦邁；中藥：方盛製藥、東阿阿膠、眾生藥業、江中藥業、天士力、濟川藥業、羚鋭製藥、悦康藥業、佐力藥業；原料藥：普洛藥業、健友股份、華海藥業、奧鋭特、博瑞醫藥；醫療器械：邁瑞醫療、聯影醫療、開立醫療、澳華內鏡、英科醫療、萬孚生物、可孚醫療、聖湘生物、康拓醫療；醫療服務：愛爾眼科、通策醫療、美年健康、海吉亞醫療、錦欣生殖；零售藥店：益豐藥房。風險提示：政策推進不及預期，產品銷售不及預期，行業競爭加劇。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}

醫藥生物行業週報：關注基藥目錄調整 首推方盛製藥

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醫藥生物行業週報：關注基藥目錄調整首推方盛製藥