导语：当资本退潮、故事时代的华丽外衣被剥去，中国创新药行业历经深刻的价值重估，正凭借扎实的业绩与全球化的雄心，迎来数据驱动的价值回归，站在一个充满希望的新起点上。曾几何时，创新药赛道充斥着“讲故事融资”的狂热。PPT新药、管线泡沫、估值虚高……资本追逐的是未来幻想，而非当下实绩。四年寒冬洗礼，泡沫逐渐挤压，行业悄然蜕变。年初至8月底，港股创新药指数涨幅高达108.64%，大幅跑赢恒生综合指数。这...
Source Link导语：当资本退潮、故事时代的华丽外衣被剥去，中国创新药行业历经深刻的价值重估，正凭借扎实的业绩与全球化的雄心，迎来数据驱动的价值回归，站在一个充满希望的新起点上。曾几何时，创新药赛道充斥着“讲故事融资”的狂热。PPT新药、管线泡沫、估值虚高……资本追逐的是未来幻想，而非当下实绩。四年寒冬洗礼，泡沫逐渐挤压，行业悄然蜕变。年初至8月底，港股创新药指数涨幅高达108.64%，大幅跑赢恒生综合指数。这...
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