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<!DOCTYPE html>
<html lang="zh-CN">
<head>
<meta charset="utf-8" />
<meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
<title>创新药行业洞察报告</title>
<link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
<link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
<link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet">
<link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css">
<style>
body {
font-family: 'Inter', sans-serif;
background: linear-gradient(135deg, #f5f7fa 0%, #c3cfe2 100%);
min-height: 100vh;
}
.section-card {
backdrop-filter: blur(10px);
background: rgba(255, 255, 255, 0.85);
box-shadow: 0 8px 32px 0 rgba(31, 38, 135, 0.15);
border: 1px solid rgba(255, 255, 255, 0.18);
}
.timeline-item {
position: relative;
padding-left: 30px;
}
.timeline-item:before {
content: "";
position: absolute;
left: 0;
top: 8px;
width: 12px;
height: 12px;
border-radius: 50%;
background: #3b82f6;
}
.timeline-item:after {
content: "";
position: absolute;
left: 5px;
top: 20px;
width: 2px;
height: calc(100% - 12px);
background: #e5e7eb;
}
.timeline-item:last-child:after {
display: none;
}
.highlight {
background: linear-gradient(120deg, #a1c4fd 0%, #c2e9fb 100%);
padding: 2px 6px;
border-radius: 4px;
font-weight: 600;
}
.table-container {
overflow-x: auto;
}
@media (max-width: 768px) {
.section-card {
margin-bottom: 1rem;
}
}
#particles-js {
position: fixed;
width: 100%;
height: 100%;
top: 0;
left: 0;
z-index: -1;
}
</style>
</head>
<body class="text-gray-800">
<div id="particles-js"></div>
<div class="container mx-auto px-4 py-8 max-w-7xl">
<!-- 标题部分 -->
<div class="text-center mb-12">
<h1 class="text-4xl md:text-5xl font-bold text-gray-900 mb-4">创新药行业洞察报告</h1>
<p class="text-xl text-gray-600">从"中国故事"走向"全球订单"的产业变革</p>
</div>
<!-- 概念事件时间轴 -->
<div class="section-card rounded-2xl p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-900 mb-6 flex items-center">
<i class="fas fa-history text-blue-500 mr-3"></i>概念事件
</h2>
<div class="space-y-4">
<div class="timeline-item">
<h3 class="font-semibold text-lg">2015-2017药审改革破冰</h3>
<p class="text-gray-600">44号文重新定义新药标准加入ICH接轨国际</p>
</div>
<div class="timeline-item">
<h3 class="font-semibold text-lg">2018-2020资本涌入期</h3>
<p class="text-gray-600">科创板/港股18A开通2021年融资峰值<span class="highlight">551亿美元</span></p>
</div>
<div class="timeline-item">
<h3 class="font-semibold text-lg">2021-2023政策纠偏期</h3>
<p class="text-gray-600">CDE提高同质化门槛医保谈判降价趋稳</p>
</div>
<div class="timeline-item">
<h3 class="font-semibold text-lg">2024-2025新质生产力转型</h3>
<ul class="list-disc list-inside text-gray-600 space-y-1">
<li>2024年7月国务院发布《全链条支持创新药实施方案》首次将创新药纳入"新质生产力"</li>
<li>2025年6月医保局明确"丙类目录"对接商保,<span class="highlight">30日默示许可</span>缩短临床审批</li>
<li>2025年Q1中国创新药License-out交易额<span class="highlight">366亿美元</span>(同比+258%),创历史新高</li>
</ul>
</div>
</div>
</div>
<!-- 核心观点摘要 -->
<div class="section-card rounded-2xl p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-900 mb-6 flex items-center">
<i class="fas fa-lightbulb text-yellow-500 mr-3"></i>核心观点摘要
</h2>
<div class="grid md:grid-cols-3 gap-6">
<div class="bg-blue-50 p-5 rounded-xl">
<h3 class="font-semibold text-lg mb-3 text-blue-800">阶段判断</h3>
<p class="text-gray-700">中国创新药已从"政策红利期"进入"全球化兑现期"<span class="highlight">2025-2026年将是盈利拐点</span></p>
</div>
<div class="bg-green-50 p-5 rounded-xl">
<h3 class="font-semibold text-lg mb-3 text-green-800">核心驱动力</h3>
<p class="text-gray-700">政策全链条支持(医保+商保双轮驱动)+ 技术迭代ADC/双抗/CAR-T+ 出海License-out爆发</p>
</div>
<div class="bg-purple-50 p-5 rounded-xl">
<h3 class="font-semibold text-lg mb-3 text-purple-800">未来潜力</h3>
<p class="text-gray-700">2024年市场规模<span class="highlight">1.14万亿</span>预计2025-2030年CAGR <span class="highlight">10%+</span>,出海峰值空间或超<span class="highlight">1000亿美元</span></p>
</div>
</div>
</div>
<!-- 核心逻辑与市场认知 -->
<div class="section-card rounded-2xl p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-900 mb-6 flex items-center">
<i class="fas fa-brain text-purple-500 mr-3"></i>核心逻辑与市场认知分析
</h2>
<div class="mb-6">
<h3 class="text-xl font-semibold mb-4 text-gray-800">核心驱动力</h3>
<div class="grid md:grid-cols-3 gap-4">
<div>
<h4 class="font-medium mb-2 text-blue-700">政策端</h4>
<ul class="text-sm text-gray-600 space-y-1">
<li>• 支付扩容2025年丙类目录落地商保覆盖创新药数量从2024年<span class="highlight">120款</span>扩至<span class="highlight">500+款</span></li>
<li>• 审评提速临床试验审批从60日压缩至<span class="highlight">30日</span>2024年1类创新药获批<span class="highlight">48款</span>(同比+60%</li>
</ul>
</div>
<div>
<h4 class="font-medium mb-2 text-green-700">技术端</h4>
<ul class="text-sm text-gray-600 space-y-1">
<li>• ADC/双抗:中国占全球管线<span class="highlight">50%+</span>如科伦SKB264授权默沙东<span class="highlight">14.1亿美元</span></li>
<li>• CAR-T2024年全球交易中国占比<span class="highlight">38%</span>实体瘤突破如泽璟ZG006</li>
</ul>
</div>
<div>
<h4 class="font-medium mb-2 text-purple-700">商业化端</h4>
<ul class="text-sm text-gray-600 space-y-1">
<li>• 头部企业盈利百济神州2025年Q1首次GAAP盈利</li>
<li>• 恒瑞创新药收入占比<span class="highlight">49.6%</span>2024年138.9亿)</li>
</ul>
</div>
</div>
</div>
<div class="mb-6">
<h3 class="text-xl font-semibold mb-4 text-gray-800">市场热度与情绪</h3>
<div class="bg-gray-50 p-4 rounded-lg">
<ul class="text-gray-600 space-y-2">
<li>• 研报密度2025年6月单月<span class="highlight">15篇</span>深度报告聚焦出海(东吴、天风、海通集体唱多)</li>
<li>• 情绪指标港股创新药ETF在关税恐慌中<span class="highlight">单日涨3.5%</span>市场认知BD出海免疫关税</li>
</ul>
</div>
</div>
<div>
<h3 class="text-xl font-semibold mb-4 text-gray-800">预期差</h3>
<div class="bg-yellow-50 p-4 rounded-lg border-l-4 border-yellow-400">
<h4 class="font-medium mb-2 text-yellow-800">市场忽略点</h4>
<ul class="text-gray-700 space-y-1">
<li>• 支付端弹性商保对高价药如CAR-T定价<span class="highlight">120万</span>)的支付比例或超预期(北京普惠健康保已覆盖)</li>
<li>• 技术代差中国ADC毒素链接技术如荣昌RC48已领先全球但估值未充分反映PE仅<span class="highlight">25倍</span> vs 国际龙头<span class="highlight">50倍</span></li>
</ul>
</div>
</div>
</div>
<!-- 关键催化剂 -->
<div class="section-card rounded-2xl p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-900 mb-6 flex items-center">
<i class="fas fa-rocket text-red-500 mr-3"></i>关键催化剂与未来发展路径
</h2>
<div class="mb-6">
<h3 class="text-xl font-semibold mb-4 text-gray-800">近期催化剂3-6个月</h3>
<div class="grid md:grid-cols-3 gap-4">
<div class="bg-red-50 p-4 rounded-lg">
<div class="text-red-600 font-medium mb-2">2025年9月</div>
<p class="text-gray-700 text-sm">丙类目录首批名单公布(预计纳入<span class="highlight">50-80款</span>高价值创新药)</p>
</div>
<div class="bg-red-50 p-4 rounded-lg">
<div class="text-red-600 font-medium mb-2">2025年ASCO</div>
<p class="text-gray-700 text-sm">中国ADC/双抗数据读出如石药SYS6010胃癌ORR <span class="highlight">50%</span></p>
</div>
<div class="bg-red-50 p-4 rounded-lg">
<div class="text-red-600 font-medium mb-2">2025年Q3</div>
<p class="text-gray-700 text-sm">百济神州泽布替尼美国市占率突破<span class="highlight">15%</span>当前12.7%</p>
</div>
</div>
</div>
<div>
<h3 class="text-xl font-semibold mb-4 text-gray-800">长期路径</h3>
<div class="bg-gradient-to-r from-blue-50 to-purple-50 p-6 rounded-xl">
<div class="grid md:grid-cols-2 gap-6">
<div>
<h4 class="font-semibold text-blue-800 mb-2">2025-2026</h4>
<p class="text-gray-700">头部Biotech盈亏平衡信达、康方等</p>
</div>
<div>
<h4 class="font-semibold text-purple-800 mb-2">2027-2030</h4>
<p class="text-gray-700">中国FIC药物全球占比从<span class="highlight">30%</span>提升至<span class="highlight">50%</span>如KRAS G12D抑制剂</p>
</div>
</div>
</div>
</div>
</div>
<!-- 产业链与核心公司 -->
<div class="section-card rounded-2xl p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-900 mb-6 flex items-center">
<i class="fas fa-sitemap text-indigo-500 mr-3"></i>产业链与核心公司深度剖析
</h2>
<div class="mb-6">
<h3 class="text-xl font-semibold mb-4 text-gray-800">产业链图谱</h3>
<div class="flex flex-wrap justify-center items-center gap-4 py-6">
<div class="bg-blue-100 px-6 py-3 rounded-full font-medium text-blue-800">上游CXO</div>
<div class="text-2xl text-gray-400"></div>
<div class="bg-green-100 px-6 py-3 rounded-full font-medium text-green-800">中游:创新药企</div>
<div class="text-2xl text-gray-400"></div>
<div class="bg-purple-100 px-6 py-3 rounded-full font-medium text-purple-800">下游:医院/DTP药房/商保</div>
</div>
<p class="text-center text-gray-600 text-sm mt-2">代表企业:药明康德、泰格医药 → 恒瑞、百济、信达 → 医院终端</p>
</div>
<div>
<h3 class="text-xl font-semibold mb-4 text-gray-800">核心玩家对比</h3>
<div class="overflow-x-auto">
<table class="min-w-full bg-white rounded-lg overflow-hidden">
<thead class="bg-gray-100">
<tr>
<th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">公司</th>
<th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">核心逻辑</th>
<th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">风险点</th>
<th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">估值2025E PE</th>
</tr>
</thead>
<tbody class="divide-y divide-gray-200">
<tr>
<td class="px-4 py-3 font-medium">百济神州</td>
<td class="px-4 py-3 text-sm">泽布替尼全球放量2025年峰值<span class="highlight">30亿美元</span></td>
<td class="px-4 py-3 text-sm">国际化销售费用高企</td>
<td class="px-4 py-3 text-sm font-medium"><span class="highlight">35倍</span></td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">恒瑞医药</td>
<td class="px-4 py-3 text-sm">13款创新药上市ADC平台授权<span class="highlight">7亿美元</span></td>
<td class="px-4 py-3 text-sm">集采压制仿制药利润</td>
<td class="px-4 py-3 text-sm font-medium"><span class="highlight">28倍</span></td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">科伦博泰</td>
<td class="px-4 py-3 text-sm">SKB264授权默沙东里程碑<span class="highlight">14.1亿美元</span></td>
<td class="px-4 py-3 text-sm">依赖单一管线</td>
<td class="px-4 py-3 text-sm font-medium"><span class="highlight">40倍</span></td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">信达生物</td>
<td class="px-4 py-3 text-sm">IBI363鳞癌数据优异ORR <span class="highlight">36.7%</span></td>
<td class="px-4 py-3 text-sm">现金流缺口2024年亏损<span class="highlight">10亿</span></td>
<td class="px-4 py-3 text-sm font-medium text-red-600">亏损</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
<!-- 潜在风险 -->
<div class="section-card rounded-2xl p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-900 mb-6 flex items-center">
<i class="fas fa-exclamation-triangle text-orange-500 mr-3"></i>潜在风险与挑战
</h2>
<div class="grid md:grid-cols-2 gap-4">
<div class="bg-orange-50 p-4 rounded-lg">
<h3 class="font-semibold text-orange-800 mb-2">技术风险</h3>
<p class="text-gray-700 text-sm">双抗毒性管理如康方AK104的<span class="highlight">3级CRS发生率2%</span></p>
</div>
<div class="bg-orange-50 p-4 rounded-lg">
<h3 class="font-semibold text-orange-800 mb-2">商业化风险</h3>
<p class="text-gray-700 text-sm">医保谈判降价超预期2024年平均降幅<span class="highlight">63%</span></p>
</div>
<div class="bg-orange-50 p-4 rounded-lg">
<h3 class="font-semibold text-orange-800 mb-2">政策风险</h3>
<p class="text-gray-700 text-sm">美国拟对进口药品加关税但BD出海<span class="highlight">免疫关税</span></p>
</div>
<div class="bg-orange-50 p-4 rounded-lg">
<h3 class="font-semibold text-orange-800 mb-2">信息矛盾</h3>
<p class="text-gray-700 text-sm">路演称"中国FIC占比30%"但2024年全球FIC仅<span class="highlight">11款</span>来自中国,需验证统计口径</p>
</div>
</div>
</div>
<!-- 综合结论 -->
<div class="section-card rounded-2xl p-6 mb-8 bg-gradient-to-br from-blue-50 to-indigo-50">
<h2 class="text-2xl font-bold text-gray-900 mb-6 flex items-center">
<i class="fas fa-chart-line text-green-500 mr-3"></i>综合结论与投资启示
</h2>
<div class="mb-6">
<h3 class="text-xl font-semibold mb-3 text-gray-800">阶段判断</h3>
<p class="text-gray-700">从主题炒作2021年PE <span class="highlight">150倍</span>进入基本面驱动2025年PE <span class="highlight">25-40倍</span></p>
</div>
<div class="mb-6">
<h3 class="text-xl font-semibold mb-3 text-gray-800">投资方向</h3>
<div class="grid md:grid-cols-2 gap-4">
<div class="bg-white p-4 rounded-lg shadow-sm">
<h4 class="font-medium text-blue-700 mb-2">出海主线</h4>
<p class="text-gray-600 text-sm">License-out占比高的公司科伦博泰、石药集团</p>
</div>
<div class="bg-white p-4 rounded-lg shadow-sm">
<h4 class="font-medium text-blue-700 mb-2">支付弹性</h4>
<p class="text-gray-600 text-sm">商保覆盖的罕见病药如信达IBI311眼科</p>
</div>
</div>
</div>
<div>
<h3 class="text-xl font-semibold mb-3 text-gray-800">跟踪指标</h3>
<div class="bg-white p-4 rounded-lg shadow-sm">
<ul class="text-gray-700 space-y-2">
<li><span class="font-medium">2025年Q3</span>:丙类目录纳入品种数量(目标<span class="highlight">>50款</span></li>
<li><span class="font-medium">2025年ASCO</span>中国ADC头对头数据如恒瑞SHR-A1811 vs DS-8201</li>
</ul>
</div>
</div>
<div class="mt-6 p-4 bg-gradient-to-r from-green-500 to-blue-500 rounded-xl text-white">
<h3 class="text-xl font-bold mb-2">一句话总结</h3>
<p class="text-lg">创新药正从"中国故事"走向"全球订单"<span class="font-bold text-yellow-300">2025年是盈利与估值双击的起点</span></p>
</div>
</div>
<!-- 关联股票表格 -->
<div class="section-card rounded-2xl p-6">
<h2 class="text-2xl font-bold text-gray-900 mb-6 flex items-center">
<i class="fas fa-table text-teal-500 mr-3"></i>关联股票数据
</h2>
<div class="table-container">
<table class="min-w-full bg-white rounded-lg overflow-hidden">
<thead class="bg-gray-100">
<tr>
<th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">股票名称</th>
<th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">行业</th>
<th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">项目</th>
<th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">分类</th>
</tr>
</thead>
<tbody class="divide-y divide-gray-200">
<tr>
<td class="px-4 py-3 font-medium">迈威生物</td>
<td class="px-4 py-3 text-sm">生物制品</td>
<td class="px-4 py-3 text-sm">重组蛋白</td>
<td class="px-4 py-3 text-sm">抗肿瘤药</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">神州细胞</td>
<td class="px-4 py-3 text-sm">生物制品</td>
<td class="px-4 py-3 text-sm">重组蛋白</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">特宝生物</td>
<td class="px-4 py-3 text-sm">生物制品</td>
<td class="px-4 py-3 text-sm">重组蛋白</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">安科生物</td>
<td class="px-4 py-3 text-sm">生物制品</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">双鹭药业</td>
<td class="px-4 py-3 text-sm">生物制品</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">甘李药业</td>
<td class="px-4 py-3 text-sm">生物制品</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">减肥药</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">新诺威</td>
<td class="px-4 py-3 text-sm">原料药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">减肥药</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">博瑞医药</td>
<td class="px-4 py-3 text-sm">原料药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">抗肿瘤药</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">键凯科技</td>
<td class="px-4 py-3 text-sm">原料药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">普洛药业</td>
<td class="px-4 py-3 text-sm">原料药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">减肥药</td>
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<tr>
<td class="px-4 py-3 font-medium">科伦药业</td>
<td class="px-4 py-3 text-sm">化学制剂</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">东诚药业</td>
<td class="px-4 py-3 text-sm">化学制剂</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">信立泰</td>
<td class="px-4 py-3 text-sm">化学制剂</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">减肥药</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">海思科</td>
<td class="px-4 py-3 text-sm">化学制剂</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">人福医药</td>
<td class="px-4 py-3 text-sm">化学制剂</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">百利天恒</td>
<td class="px-4 py-3 text-sm">化学制剂</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">上海谊众</td>
<td class="px-4 py-3 text-sm">化学制剂</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">抗肿瘤药</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">红日药业</td>
<td class="px-4 py-3 text-sm">中药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">亚宝药业</td>
<td class="px-4 py-3 text-sm">中药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">方盛制药</td>
<td class="px-4 py-3 text-sm">中药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">新天药业</td>
<td class="px-4 py-3 text-sm">中药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">天士力</td>
<td class="px-4 py-3 text-sm">中药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">哈一药业</td>
<td class="px-4 py-3 text-sm">北交所</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">康乐卫士</td>
<td class="px-4 py-3 text-sm">北交所</td>
<td class="px-4 py-3 text-sm">重组蛋白</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">梓橦宫</td>
<td class="px-4 py-3 text-sm">北交所</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">生物谷</td>
<td class="px-4 py-3 text-sm">北交所</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">三元基因</td>
<td class="px-4 py-3 text-sm">北交所</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">普利制药</td>
<td class="px-4 py-3 text-sm">CRO</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">减肥药</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">昊帆生物</td>
<td class="px-4 py-3 text-sm">CRO</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">百诚医药</td>
<td class="px-4 py-3 text-sm">CRO</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">博腾股份</td>
<td class="px-4 py-3 text-sm">CRO</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">药明康德</td>
<td class="px-4 py-3 text-sm">CRO</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">美迪西</td>
<td class="px-4 py-3 text-sm">CRO</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">康龙化成</td>
<td class="px-4 py-3 text-sm">CRO</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">百普赛斯</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">重组蛋白</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">福瑞达</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">重组蛋白</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">丸美股份</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">重组蛋白</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">中源协和</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">重组蛋白</td>
<td class="px-4 py-3 text-sm">-</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">艾德生物</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">抗肿瘤药</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">荣昌生物</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">抗肿瘤药</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">迪哲医药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">抗肿瘤药</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">贝达药业</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">抗肿瘤药</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">常山药业</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">抗肿瘤药</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">昆药集团</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">抗肿瘤药</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">一品红</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">千红制药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">吉贝尔</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">京新药业</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">新华制药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">肝炎</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">恒瑞医药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">减肥药</td>
</tr>
<tr>
<td class="px-4 py-3 font-medium">通化东宝</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">减肥药</td>
</tr>
<tr class="bg-gray-50">
<td class="px-4 py-3 font-medium">华森制药</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">-</td>
<td class="px-4 py-3 text-sm">减肥药</td>
</tr>
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