医药行业周报:正向循环建立 出海趋势强化

华鑫证券
07 Jul

1. 创新药的出海价值被持续验证,估值提升趋势有望延续创新出海是本轮创新药价值重估的重要推动因素,其价值的锚点在于BD估值水平的变化,尤其是PD-1/VEGF为代表的双抗。从康方生物与SUMMIT THERAPEUTICS 的合作开始到6月2日,BMS与BioNTech达成一项超90亿美元的交易,海外MNC对PD-1双抗的价值认知和交易金额在快速提高。根据医药魔方数据,2025年Q1,中国医药交易...

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