金吾财讯 | 医药股部分走强，截至发稿，荣昌生物(09995)涨4.21%，君实生物(01877)涨3.40%，药明生物(02269)涨2.81%，药明合联(02268)涨1.77%，复宏汉霖(02696)涨1.09%，药明康德(02359)涨1.20%。消息面上，中信建投发研报指，在全球化格局重塑背景下，中国医药行业需“立足于内，开拓于外”，推动技术自主可控、加速国际化布局，应对关税政策与地缘政治挑战，捕捉全球医药产业链变革机遇。本次美国对中国加征关税中，药品阶段性豁免，创新药BD出海主要是IP转让，影响同样有限。对于器械行业该行长期看好自主可控及器械出海趋势。展望行业未来投资机遇，该行看好医药企业对内稳住国内根基，积极参与行业整合，对外把握节奏与路径，积极开拓海外市场。
国金证券表示，创新医药投资机会的把握将是贯穿2025年全年医药投资的主线。在当前时点重点看好确定性强的创新药出海和仿创结合品种，同时积极关注ASCO会议数据发布和海外BD商务合作进程。
信达证券认为，前期受中美关税政策持续升级的影响，出口产业链出现较大幅度的回撤，尤其是对美出口敞口相对较大的医药细分赛道，例如CXO板块、原料药板块等，随着关税政策的边际缓和，这些细分板块有望迎来估值修复。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.