中国创新药,进入3.0时代

行舟Drug
Oct 18, 2025

点击上方的行舟Drug▲ 添加关注创新药是一门高投入,高风险,长周期的生意,而中国的创新药产业正在跨越第一个盈利周期。如果把“非PD-1无法融资”的扎堆时代看作1.0时代,众多品种上市但me-too大行其道看作2.0时代,当前我们或许正在进入“FIC创新+盈利”的 3.0时代。我们从JPM大会中,总结头部创新药公司(港股)的情况,以窥中国创新药产业是否到达拐点时刻。百济神州-稀缺的全球化...

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