金吾财讯 | 创新药概念股集体走强，截至发稿，药明康德(02359)涨7.46%，同源康医药-B(02410)涨6.96%，药明合联(02268)涨6.38%，华昊中天医药-B(02563)涨5.48%，恒瑞医药(01276)涨3.29%，博安生物(06955)涨3.20%。消息面上，高盛数据显示，截至2025年上半年，中国贡献了全球50%的新进入人体临床的新药分子，并拥有约1/3的全球创新药在研管线。十年前，这一占比仅为个位数。尤其是在ADC(抗体偶联药物)、BsAb(双特异抗体)等新型药物形式上，中国已成为全球最重要的创新来源之一。报告指出，截至目前，中国生物科技公司整体市值仍仅为美国同行的14%-15%，而其在全球创新贡献中的比重已接近33%。这意味着，中国创新药板块仍处于“价值洼地”阶段，全球资本重估才刚刚开始。
高盛认为，中国生物科技行业正在经历一次结构性重估，本轮大涨并非短期反弹。截至目前，中国生物科技公司整体市值仍仅为美国同行的14%-15%，而其在全球创新贡献中的比重已接近33%。这意味着，中国创新药板块仍处于“价值洼地”阶段，全球资本重估才刚刚开始。
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