金吾财讯 | 医药股多数高开，三生制药(01530)涨14.9%，与辉瑞就PD-1/VEGF双特异性抗体(SSGJ-707)订立许可协议；石药集团(01093)涨3.87%，药明康德(02359)涨1.51%，翰森制药(03692)涨3.19%，远大医药(00512)、药明生物(02269)等跟涨。东海证券表示，特朗普发布行政令，要求制药企业按照可比发达国家“最惠国”价格在美国销售药品，该行政令的落地尚面临司法挑战和执行细节的调整，短期仍有不确定性。长期来看，若现行国际药价梯度被打破，或推动全球药企调整定价策略；我国创新药具备研发成本低、效率高的优点，或成为BD交易首选，中国有望成为低成本研发与生产中心，加速从“仿制跟随”向“创新主导”转型。该行指出，大型跨国药企在更严格的定价体系下可能积极寻求降低研发生产成本的路径，我国CXO产业链或将进一步巩固市场地位。仿制药方面，美国仿制药市场因价格压缩可能引发生产商退出，导致供应短缺，我国具备ANDA批件积累的仿制药企业有望抢占市场份额。
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