国金证券:国内创新药已步入全面收获时代,把握优质赛道与出海主线

国金证券
Jan 14

研发能力突破,全球竞争力凸显。2025年全球医药投融资触底复苏,前11个月总额达1921亿美元,海内外市场同步改善,且呈现传统赛道稳健流入、ADC、双抗等新兴赛道加码的特征。全球及中国生物医药BD合作持续升温,交易数量与金额双升,中国创新药出海进入多品类攻坚阶段,License-out交易成为跨国交易主线。同时,中国创新药研发能力凸显,IND、NDA数量及获批上市品种持续增长,在ADC、细胞疗法等...

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