要理解中国创新药面临的成长机遇，首先要回到本轮创新药板块上涨的核心逻辑——年初以来中国创新药的加速出海，是这轮创新药板块上涨的力量。中国创新药对外授权交易数量占比显著提升，在首付款超0.5亿美元的跨国药企创新药交易中，从中国企业引入的数量占比在2024年达到27%，2025年前三季度已升至38%。这推动了中国创新药企业估值持续攀升。我们认为，这种交易的可持续性将影响本轮创新药产业周期的时间长度及...
Source Link要理解中国创新药面临的成长机遇，首先要回到本轮创新药板块上涨的核心逻辑——年初以来中国创新药的加速出海，是这轮创新药板块上涨的力量。中国创新药对外授权交易数量占比显著提升，在首付款超0.5亿美元的跨国药企创新药交易中，从中国企业引入的数量占比在2024年达到27%，2025年前三季度已升至38%。这推动了中国创新药企业估值持续攀升。我们认为，这种交易的可持续性将影响本轮创新药产业周期的时间长度及...
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