599 lines
42 KiB
HTML
599 lines
42 KiB
HTML
北京价值前沿科技有限公司 AI投研agent：“价小前投研” 进行投研呈现，本报告为AI合成数据，投资需谨慎。
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<!DOCTYPE html>
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<html lang="zh-CN" data-theme="night">
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<head>
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<meta charset="UTF-8">
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<meta name="viewport" content="width=device-width, initial-scale=1.0">
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<title>深度研报：创新药</title>
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<script src="https://cdn.jsdelivr.net/npm/alpinejs@3.13.10/dist/cdn.min.js" defer></script>
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<script src="https://cdn.tailwindcss.com"></script>
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<script src="https://cdn.jsdelivr.net/npm/echarts@5.5.0/dist/echarts.min.js"></script>
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<style>
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:root {
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--glow-color-1: rgba(0, 255, 255, 0.3);
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--glow-color-2: rgba(255, 0, 255, 0.3);
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html {
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scroll-behavior: smooth;
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body {
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font-family: 'Inter', 'Lexend', sans-serif;
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background-color: #010418;
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background-image:
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radial-gradient(ellipse 80% 50% at 10% 20%, var(--glow-color-1), transparent 80%),
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radial-gradient(circle 500px at 50% 100%, var(--glow-color-3), transparent 90%);
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border: 1px solid rgba(255, 255, 255, 0.1);
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border-radius: 1.5rem; /* 24px */
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transition: all 0.3s ease;
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box-shadow: 0 8px 32px 0 rgba(0, 0, 0, 0.37);
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transform: translateY(-5px);
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box-shadow: 0 0 40px rgba(0, 255, 255, 0.2), 0 0 60px rgba(255, 0, 255, 0.1);
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border-color: rgba(0, 255, 255, 0.3);
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}
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.bento-grid {
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display: grid;
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gap: 1.5rem;
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grid-template-columns: repeat(12, 1fr);
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grid-auto-rows: minmax(100px, auto);
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font-size: 2.5rem;
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.card-title-custom {
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font-weight: 600;
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color: #C7D2FE;
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font-size: 1.25rem;
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}
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.table thead th {
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background-color: rgba(30, 41, 59, 0.5);
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color: #94A3B8;
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border-bottom: 1px solid rgba(255, 255, 255, 0.2);
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}
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.table tbody tr:hover {
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background-color: rgba(51, 65, 85, 0.7);
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background-color: rgba(30, 41, 59, 0.5) !important;
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::-webkit-scrollbar-track {
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::-webkit-scrollbar-thumb {
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background-color: rgba(138, 43, 226, 0.5);
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border-radius: 10px;
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border: 2px solid transparent;
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background-clip: content-box;
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}
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</style>
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</head>
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<body class="min-h-screen">
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<main class="container mx-auto p-4 md:p-8">
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<!-- Header -->
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<header class="text-center py-12">
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<h1 class="text-5xl md:text-7xl font-bold tracking-tighter bg-clip-text text-transparent bg-gradient-to-br from-white via-slate-300 to-indigo-400">
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创新药
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</h1>
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<p class="mt-4 text-lg text-slate-400 max-w-3xl mx-auto">
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从“跟随”到“引领”：全球比较优势下的价值重估与商业化兑现之路
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</p>
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<div class="mt-2 text-xs text-gray-500">
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北京价值前沿科技有限公司 AI投研agent：“价小前投研” | 本报告为AI合成数据，投资需谨慎。
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</div>
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</header>
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<!-- Bento Grid Layout -->
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<div class="bento-grid">
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<!-- Core Viewpoint -->
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<div class="glass-card p-6 grid-item col-span-12 lg:col-span-8 row-span-2 flex flex-col">
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<h2 class="card-title-custom mb-4 flex items-center">
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<svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-indigo-400" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M13 10V3L4 14h7v7l9-11h-7z" /></svg>
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核心观点
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</h2>
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<p class="text-slate-300 leading-relaxed flex-grow">
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中国创新药正处于由“技术验证”迈向“商业化兑现”的关键拐点。其核心驱动力已从国内政策红利，转变为以ADC、双抗为代表的、具备全球竞争力的技术平台驱动的“BD出海”新范式，这正在重塑行业的估值体系。未来，行业的潜力在于能否将出海的成功复制到更多技术领域，并有效解决国内市场“准入难、支付难”的商业化瓶颈。
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</p>
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</div>
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<!-- BD Growth Chart -->
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<div class="glass-card p-6 grid-item col-span-12 lg:col-span-4 row-span-2">
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<h2 class="card-title-custom mb-4">对外BD授权金额爆发式增长</h2>
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<div id="bd-chart" style="width: 100%; height: 250px;"></div>
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<p class="text-xs text-slate-500 mt-2 text-center">数据来源：新闻数据。*2025年数据为Q1数据及全年预测。</p>
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</div>
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<!-- Core Logic -->
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<div class="glass-card p-6 grid-item col-span-12 lg:col-span-12">
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<h2 class="card-title-custom mb-4 flex items-center">
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<svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-teal-400" fill="none" viewBox="0 0 24 24" stroke="currentColor" stroke-width="2"><path stroke-linecap="round" stroke-linejoin="round" d="M9 3v2m6-2v2M9 19v2m6-2v2M5 9H3m2 6H3m18-6h-2m2 6h-2M12 6V3m0 18v-3M5.636 5.636l-1.414-1.414m15.556 15.556l-1.414-1.414M18.364 5.636l1.414-1.414M4.222 19.778l1.414-1.414M12 12a6 6 0 100-12 6 6 0 000 12z" /></svg>
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核心逻辑：全球比较优势下的价值重估
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</h2>
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<div class="grid grid-cols-1 md:grid-cols-3 gap-6 text-sm">
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<div class="p-4 bg-slate-800/50 rounded-xl">
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<h3 class="font-semibold text-indigo-300 mb-2">供给端：技术资产溢出</h3>
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<p class="text-slate-400">基于工程师红利和庞大患者池，中国在ADC、双抗等技术迭代领域实现“弯道超车”，占全球相关技术比例均<strong class="text-teal-400">超过50%</strong>，从“仿制药大国”转变为“创新药策源地”。</p>
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</div>
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<div class="p-4 bg-slate-800/50 rounded-xl">
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<h3 class="font-semibold text-indigo-300 mb-2">需求端：MNC的迫切需求</h3>
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<p class="text-slate-400">MNC面临严峻的“专利悬崖”，急需通过BD补充研发管线。中国创新药资产因其“高性价比”成为MNC的主动选择，形成强大的外部需求拉动。</p>
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</div>
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<div class="p-4 bg-slate-800/50 rounded-xl">
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<h3 class="font-semibold text-indigo-300 mb-2">政策端：全链条支持</h3>
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<p class="text-slate-400">从研发端审评审批加速，到支付端的“商保目录”等多元化支付探索，政策正在为创新药在国内的商业化扫清障碍，构筑坚实的“内循环”基础。</p>
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</div>
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</div>
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</div>
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<!-- China's R&D Position -->
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<div class="glass-card p-6 grid-item col-span-12 lg:col-span-5 row-span-2">
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<h2 class="card-title-custom mb-4">全球研发新格局：中国力量崛起</h2>
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<div class="flex justify-around items-center h-full">
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<div id="fic-chart" style="width: 50%; height: 220px;"></div>
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<div id="clinical-chart" style="width: 50%; height: 220px;"></div>
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</div>
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<p class="text-xs text-slate-500 mt-2 text-center">数据来源：研报数据。</p>
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</div>
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<!-- Key Catalysts -->
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<div class="glass-card p-6 grid-item col-span-12 lg:col-span-7 row-span-2">
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<h2 class="card-title-custom mb-4">关键催化剂与未来发展路径</h2>
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<div x-data="{ tab: 'short' }" class="flex flex-col h-full">
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<div class="tabs tabs-boxed bg-slate-900/50 self-start mb-4">
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<a class="tab" :class="{ 'tab-active': tab === 'short' }" @click.prevent="tab = 'short'">近期催化 (3-6个月)</a>
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<a class="tab" :class="{ 'tab-active': tab === 'long' }" @click.prevent="tab = 'long'">长期路径</a>
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</div>
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<div class="flex-grow">
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<div x-show="tab === 'short'" class="space-y-3 text-sm">
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<p><strong class="text-cyan-400">重磅临床数据发布:</strong> 关注WCLC、ESMO等全球学术会议上，核心管线最新数据读出。</p>
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<p><strong class="text-cyan-400">医保与商保目录落地:</strong> Q4医保谈判结果及首批“商保目录”执行情况是观察支付体系有效性的窗口。</p>
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<p><strong class="text-cyan-400">关键品种申报与获批:</strong> 关注科伦博泰SKB264、康诺亚CM310等重磅品种在Q4的NDA获批进展。</p>
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<p><strong class="text-cyan-400">持续的BD交易:</strong> 任何重大BD交易的宣布，都将持续强化市场信心。</p>
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</div>
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<div x-show="tab === 'long'" class="space-y-3 text-sm">
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<p><strong class="text-fuchsia-400">第一阶段 (当前):</strong> 技术授权(License-out)驱动，以ADC、双抗为核心的肿瘤药是主力。</p>
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<p><strong class="text-fuchsia-400">第二阶段 (中期):</strong> 领域扩张与自主商业化探索，从肿瘤扩展至自免、代谢等，头部企业建立海外商业化团队。</p>
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<p><strong class="text-fuchsia-400">第三阶段 (成熟期):</strong> 诞生拥有多个全球“重磅炸弹”药物、具备全球一体化能力的跨国药企。</p>
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</div>
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</div>
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</div>
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</div>
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<!-- Industry Chain -->
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<div class="glass-card p-6 grid-item col-span-12">
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<h2 class="card-title-custom mb-4">产业链图谱与核心玩家</h2>
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<div class="grid grid-cols-1 lg:grid-cols-3 gap-4">
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<!-- Upstream -->
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<div class="flex flex-col space-y-2">
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<h3 class="text-center font-semibold text-slate-400 border-b border-slate-700 pb-2 mb-2">上游：研发赋能</h3>
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<div class="p-3 bg-slate-800/50 rounded-lg text-center text-sm">
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<p class="font-bold text-teal-300">基础研究/技术服务</p>
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<p class="text-slate-400">AI制药, 基因编辑, CRO等</p>
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<p class="font-mono text-xs text-slate-500 mt-1">药明康德, 康龙化成, 成都先导</p>
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</div>
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</div>
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<!-- Midstream -->
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<div class="flex flex-col space-y-2">
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<h3 class="text-center font-semibold text-slate-400 border-b border-slate-700 pb-2 mb-2">中游：药物研产</h3>
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<div class="p-3 bg-slate-800/50 rounded-lg text-center text-sm">
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<p class="font-bold text-indigo-300">纯粹Biotech</p>
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<p class="text-slate-400">创新研发核心</p>
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<p class="font-mono text-xs text-slate-500 mt-1">百济神州, 信达生物, 科伦博泰</p>
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</div>
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<div class="p-3 bg-slate-800/50 rounded-lg text-center text-sm">
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<p class="font-bold text-indigo-300">转型Pharma</p>
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<p class="text-slate-400">传统药企转型</p>
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<p class="font-mono text-xs text-slate-500 mt-1">恒瑞医药, 石药集团, 华东医药</p>
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</div>
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</div>
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<!-- Downstream -->
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<div class="flex flex-col space-y-2">
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<h3 class="text-center font-semibold text-slate-400 border-b border-slate-700 pb-2 mb-2">下游：商业化与支付</h3>
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<div class="p-3 bg-slate-800/50 rounded-lg text-center text-sm">
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<p class="font-bold text-amber-300">销售渠道 & 支付方</p>
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<p class="text-slate-400">医院, 药店, 医保, 商保</p>
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</div>
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</div>
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</div>
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</div>
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<!-- Risk Analysis -->
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<div class="glass-card p-6 grid-item col-span-12">
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<h2 class="card-title-custom mb-4 flex items-center">
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<svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-red-400" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M12 9v2m0 4h.01m-6.938 4h13.856c1.54 0 2.502-1.667 1.732-3L13.732 4c-.77-1.333-2.694-1.333-3.464 0L3.34 16c-.77 1.333.192 3 1.732 3z" /></svg>
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潜在风险与挑战
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</h2>
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<div class="grid grid-cols-1 md:grid-cols-2 lg:grid-cols-4 gap-4 text-sm">
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<div class="p-4 bg-red-900/20 rounded-lg border border-red-500/30">
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<h4 class="font-semibold text-red-300 mb-1">技术风险</h4>
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<p class="text-slate-400">ADC等热门技术仍面临毒副作用管理挑战，PROTAC等新技术成药不确定性高。</p>
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</div>
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<div class="p-4 bg-red-900/20 rounded-lg border border-red-500/30">
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<h4 class="font-semibold text-red-300 mb-1">商业化风险</h4>
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<p class="text-slate-400">国内“准入最后一公里”问题突出，低进院率和医保大幅降价限制市场天花板。</p>
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</div>
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<div class="p-4 bg-red-900/20 rounded-lg border border-red-500/30">
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<h4 class="font-semibold text-red-300 mb-1">政策与竞争风险</h4>
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<p class="text-slate-400">地缘政治为BD出海带来不确定性；热门靶点同质化竞争（内卷）可能恶化盈利能力。</p>
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</div>
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<div class="p-4 bg-red-900/20 rounded-lg border border-red-500/30">
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<h4 class="font-semibold text-red-300 mb-1">预期差风险</h4>
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<p class="text-slate-400">市场对“出海热”关注度高，可能忽视“内销冷”的挑战及中小Biotech的现金流困境。</p>
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</div>
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</div>
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</div>
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</div>
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<!-- Detailed Data Sections -->
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<section class="mt-16" x-data="{ selected: 'news' }">
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<h2 class="section-title text-center mb-8">深度数据资料库</h2>
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<div class="tabs tabs-boxed justify-center mb-8 bg-slate-800/50">
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<a class="tab tab-lg" :class="{ 'tab-active': selected === 'news' }" @click="selected = 'news'">新闻数据</a>
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<a class="tab tab-lg" :class="{ 'tab-active': selected === 'roadshows' }" @click="selected = 'roadshows'">路演纪要</a>
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<a class="tab tab-lg" :class="{ 'tab-active': selected === 'reports' }" @click="selected = 'reports'">研报精粹</a>
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</div>
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<div class="space-y-4">
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<!-- News Data -->
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<div x-show="selected === 'news'" class="glass-card p-6">
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<div class="space-y-6">
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<div>
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<h3 class="text-xl font-bold text-indigo-300 mb-2">市场宏观趋势与观点</h3>
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<ul class="list-disc list-inside space-y-1 text-slate-300">
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<li><strong>投资时点:</strong> 多方观点认为创新药买点已到，板块调整充分，是“捡便宜货”好机会。</li>
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<li><strong>长期趋势:</strong> 中国创新药BD是长周期产业趋势，奠定3年以上长牛；产业趋势刚刚开始，中国创新正逐步引领世界。</li>
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<li><strong>基本面:</strong> ESMO、ASCO等全球学术大会中，中国创新药披露具备全球竞争力的数据，基本面持续向好。</li>
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<li><strong>资金面:</strong> 美联储降息预期提升利好MNC并购和Biotech融资；外资（贝莱德、GIC）纷纷举牌港股Biotech，海外资本配置中国创新药资产浪潮奔涌。</li>
|
||
</ul>
|
||
</div>
|
||
<div>
|
||
<h3 class="text-xl font-bold text-indigo-300 mb-2">产业政策与监管动态</h3>
|
||
<ul class="list-disc list-inside space-y-1 text-slate-300">
|
||
<li><strong>支付创新:</strong> 首次设立“商保目录”和“丙类目录”，聚焦高值药品，为创新药商业化注入“支付活水”，打开天花板。</li>
|
||
<li><strong>集采腾笼换鸟:</strong> 预计到2025年底，集采累计节约资金4400亿元，其中约3600亿元已用于创新药。</li>
|
||
<li><strong>审评加速:</strong> 临床试验60日默示许可缩短为30日，加速创新药临床开发，提升全球竞争力。</li>
|
||
</ul>
|
||
</div>
|
||
<div>
|
||
<h3 class="text-xl font-bold text-indigo-300 mb-2">BD交易与出海动态</h3>
|
||
<ul class="list-disc list-inside space-y-1 text-slate-300">
|
||
<li><strong>整体趋势:</strong> 中国创新药对外BD金额不断提升，2025年Q1同比增速高达258%，预计全年有望突破1000亿美金。</li>
|
||
<li><strong>核心竞争力:</strong> 中国已是仅次于美国的优质创新药管线策源地，在人才、患者池、开发效率方面优势明显，“物美价廉”的资产受MNC主动需求驱动。</li>
|
||
<li><strong>重磅案例:</strong> 信达生物与武田达成114亿美元合作；乐普医疗10.1亿美金BD；联邦制药GLP-1管线BD给诺和诺德。</li>
|
||
<li><strong>美国政策影响:</strong> 限制措施草案未被积极考虑，关税对技术授权模式影响小，药价下降政策反而促使MNC引进高性价比资产。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<!-- Roadshows Data -->
|
||
<div x-show="selected === 'roadshows'" class="glass-card p-6">
|
||
<div class="space-y-6">
|
||
<div>
|
||
<h3 class="text-xl font-bold text-indigo-300 mb-2">行业宏观与经营表现</h3>
|
||
<ul class="list-disc list-inside space-y-1 text-slate-300">
|
||
<li><strong>经营拐点:</strong> 行业进入经营层面拐点，2025H1百济神州、信达生物等一批公司实现扭亏为盈。</li>
|
||
<li><strong>收入高增:</strong> A股板块2025Q2创新收入同比+25%。重点公司（百济、信达、康方等）H1增速普遍在40%-70%区间。</li>
|
||
<li><strong>BD爆发逻辑:</strong> MNC面临约2000亿美元专利悬崖，急需补充管线，这是本轮行情核心驱动力。2025年1-8月BD总包金额845亿美元，已超2024全年。</li>
|
||
<li><strong>技术迭代:</strong> 聚焦ADC、双抗/三抗、TCE、细胞治疗、小核酸等前沿技术。肿瘤领域从“跟随”到“引领”，自免、代谢赛道潜力巨大。</li>
|
||
</ul>
|
||
</div>
|
||
<div>
|
||
<h3 class="text-xl font-bold text-indigo-300 mb-2">重点公司与管线进展</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-4 text-sm">
|
||
<div class="p-3 bg-slate-800/50 rounded-lg"><strong>科伦博泰 (SKB264):</strong> Trop2-ADC，一线治疗驱动阴性NSCLC数据亮眼，获默沙东合作，有望Q4获批。</div>
|
||
<div class="p-3 bg-slate-800/50 rounded-lg"><strong>信达生物 (IBI362):</strong> GLP-1/GCGR双靶点减肥药，玛仕度肽肥胖适应症NDA已受理。</div>
|
||
<div class="p-3 bg-slate-800/50 rounded-lg"><strong>康方生物 (卡度尼利):</strong> PD-1/CTLA-4双抗，销售额+149%，一线胃癌、宫颈癌适应症推进。</div>
|
||
<div class="p-3 bg-slate-800/50 rounded-lg"><strong>百济神州 (替雷利珠单抗):</strong> PD-1，已获欧盟、FDA批准，全球商业化能力得到验证。</div>
|
||
<div class="p-3 bg-slate-800/50 rounded-lg"><strong>荣昌生物 (维迪西妥单抗):</strong> HER2-ADC，商业化表现强劲。</div>
|
||
<div class="p-3 bg-slate-800/50 rounded-lg"><strong>泽璟制药 (杰克替尼):</strong> JAK抑制剂，斑秃适应症Ⅲ期积极，有望Q3公布数据。</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<!-- Reports Data -->
|
||
<div x-show="selected === 'reports'" class="glass-card p-6">
|
||
<div class="space-y-6">
|
||
<div>
|
||
<h3 class="text-xl font-bold text-indigo-300 mb-2">全球研发新格局</h3>
|
||
<ul class="list-disc list-inside space-y-1 text-slate-300">
|
||
<li><strong>数量超越:</strong> 截至2024年底，中国企业研发的活跃状态创新药数量（3575个）累计超越美国，成为全球首位。</li>
|
||
<li><strong>源头创新增长:</strong> 中国自主研发的FIC（First-in-Class）创新药占比从2015年的<10%增长至2024年的>30%。</li>
|
||
<li><strong>领域拓展:</strong> 肿瘤研究比例仍高，但非肿领域（心脑血管、自免、代谢）开始发力，数量上已超过美国企业。</li>
|
||
<li><strong>上市加速:</strong> 2024年中国创新药上市92个，国产药占比提升至42%。近90%创新药在获批2年内进入医保。</li>
|
||
</ul>
|
||
</div>
|
||
<div>
|
||
<h3 class="text-xl font-bold text-indigo-300 mb-2">面临的挑战</h3>
|
||
<ul class="list-disc list-inside space-y-1 text-slate-300">
|
||
<li><strong>支付与准入:</strong> 医保谈判平均降价60%左右，企业面临两难；上市创新药进入北京三级医院的平均进院率仅为12.6%。</li>
|
||
<li><strong>同质化竞争:</strong> 热门靶点（如CD19、BCMA）过度集中，内卷严重。</li>
|
||
<li><strong>资本寒冬:</strong> 自2021下半年起，资本市场降温，约59.3%的新药临床试验至今尚未启动或完成。</li>
|
||
</ul>
|
||
</div>
|
||
<div>
|
||
<h3 class="text-xl font-bold text-indigo-300 mb-2">政策展望</h3>
|
||
<p class="text-slate-300">
|
||
国务院《全链条支持创新药发展实施方案》等政策出台，旨在优化产业环境、构建多元支付体系、推进三医协同、完善资本生态，实现从规模驱动到价值创造的质变。
|
||
</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
|
||
<!-- Stock Data Tables -->
|
||
<section class="mt-16" x-data="{ activeTab: 'biotech' }">
|
||
<h2 class="section-title text-center mb-8">相关概念股</h2>
|
||
|
||
<div class="tabs tabs-boxed justify-center mb-8 bg-slate-800/50">
|
||
<a @click="activeTab = 'biotech'" :class="{'tab-active': activeTab === 'biotech'}" class="tab tab-lg">核心Biotech/Pharma</a>
|
||
<a @click="activeTab = 'cro'" :class="{'tab-active': activeTab === 'cro'}" class="tab tab-lg">研发外包 (CXO)</a>
|
||
<a @click="activeTab = 'other'" :class="{'tab-active': activeTab === 'other'}" class="tab tab-lg">其他相关</a>
|
||
</div>
|
||
|
||
<div class="glass-card p-4 md:p-6 overflow-x-auto">
|
||
<!-- Core Biotech/Pharma Table -->
|
||
<div x-show="activeTab === 'biotech'">
|
||
<table class="table table-zebra w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>股票代码</th>
|
||
<th>核心逻辑/管线</th>
|
||
<th>相关标签</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr><td>恒瑞医药</td><td><a href="https://valuefrontier.cn/company?scode=600276" target="_blank" class="link link-hover link-primary">600276</a></td><td>转型巨头, PD-1, HER3 ADC, GLP-1</td><td>生物制药, 化学制药, PD1</td></tr>
|
||
<tr><td>百济神州</td><td><a href="https://valuefrontier.cn/company?scode=688235" target="_blank" class="link link-hover link-primary">688235</a></td><td>全球化龙头, 泽布替尼, 替雷利珠单抗</td><td>生物制药, PD1, 创新药出海</td></tr>
|
||
<tr><td>信达生物</td><td></td><td>BD集大成者, IBI363 (GLP-1/GCG/GIP), PD-1</td><td>PD-1, 海外大药</td></tr>
|
||
<tr><td>科伦药业</td><td><a href="https://valuefrontier.cn/company?scode=002422" target="_blank" class="link link-hover link-primary">002422</a></td><td>科伦博泰母公司, SKB264 (TROP2-ADC)</td><td>化学制剂, ADC</td></tr>
|
||
<tr><td>科伦博泰</td><td></td><td>明星ADC公司, SKB264 (TROP2-ADC)</td><td>ADC, 海外大药</td></tr>
|
||
<tr><td>荣昌生物</td><td><a href="https://valuefrontier.cn/company?scode=688331" target="_blank" class="link link-hover link-primary">688331</a></td><td>维迪西妥单抗 (HER2-ADC)</td><td>抗肿瘤药, ADC, PD-1, 双抗</td></tr>
|
||
<tr><td>百利天恒</td><td><a href="https://valuefrontier.cn/company?scode=688506" target="_blank" class="link link-hover link-primary">688506</a></td><td>双抗ADC, BL-B01D1</td><td>化学制剂, ADC, 双抗</td></tr>
|
||
<tr><td>君实生物</td><td><a href="https://valuefrontier.cn/company?scode=688180" target="_blank" class="link link-hover link-primary">688180</a></td><td>特瑞普利单抗 (PD-1), PCSK9</td><td>生物制药, PD1, 创新药出海</td></tr>
|
||
<tr><td>贝达药业</td><td><a href="https://valuefrontier.cn/company?scode=300558" target="_blank" class="link link-hover link-primary">300558</a></td><td>恩莎替尼, 贝福替尼 (EGFR-TKI)</td><td>生物制药, 抗肿瘤药, 国内超卖</td></tr>
|
||
<tr><td>康方生物</td><td></td><td>卡度尼利 (PD-1/CTLA-4双抗), AK112 (PD-1/VEGF)</td><td>海外大药</td></tr>
|
||
<tr><td>三生制药</td><td></td><td>707管线(PD-1), CD47</td><td>海外大药, PD-1/VEGF</td></tr>
|
||
<tr><td>石药集团</td><td></td><td>SYS6010 (EGFR ADC)</td><td>ADC</td></tr>
|
||
<tr><td>海思科</td><td><a href="https://valuefrontier.cn/company?scode=002653" target="_blank" class="link link-hover link-primary">002653</a></td><td>镇痛领域新药, HSK-16149</td><td>化学制剂, 集团军</td></tr>
|
||
<tr><td>迪哲医药</td><td><a href="https://valuefrontier.cn/company?scode=688192" target="_blank" class="link link-hover link-primary">688192</a></td><td>舒沃替尼 (EGFR exon20ins), DZD8586</td><td>抗肿瘤药, PD1, 其他大单品</td></tr>
|
||
<tr><td>泽璟制药</td><td><a href="https://valuefrontier.cn/company?scode=688266" target="_blank" class="link link-hover link-primary">688266</a></td><td>杰克替尼 (JAK), ZG005, ZG006</td><td>生物制药, TCE, 出海预期</td></tr>
|
||
<tr><td>诺诚健华</td><td><a href="https://valuefrontier.cn/company?scode=688428" target="_blank" class="link link-hover link-primary">688428</a></td><td>奥布替尼, TYK2抑制剂</td><td>生物制药, 双抗, 自免</td></tr>
|
||
<tr><td>华东医药</td><td><a href="https://valuefrontier.cn/company?scode=000963" target="_blank" class="link link-hover link-primary">000963</a></td><td>GLP-1仿制与创新, ADC</td><td>化学制药, AI制药, 小分子GLP-1</td></tr>
|
||
<tr><td>千红制药</td><td><a href="https://valuefrontier.cn/company?scode=002550" target="_blank" class="link link-hover link-primary">002550</a></td><td>QHRD106/107, DPP-4/CD3双抗</td><td>肝炎, 双抗, 出海预期</td></tr>
|
||
<tr><td>广生堂</td><td><a href="https://valuefrontier.cn/company?scode=300436" target="_blank" class="link link-hover link-primary">300436</a></td><td>乙肝新药GST-HG141</td><td>涨幅分析补充</td></tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
|
||
<!-- CXO Table -->
|
||
<div x-show="activeTab === 'cro'">
|
||
<table class="table table-zebra w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>股票代码</th>
|
||
<th>业务环节</th>
|
||
<th>相关标签</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr><td>药明康德</td><td><a href="https://valuefrontier.cn/company?scode=603259" target="_blank" class="link link-hover link-primary">603259</a></td><td>一体化CRO/CDMO龙头</td><td>新药研发, CRO, CDMO</td></tr>
|
||
<tr><td>康龙化成</td><td><a href="https://valuefrontier.cn/company?scode=300759" target="_blank" class="link link-hover link-primary">300759</a></td><td>一体化CRO/CDMO</td><td>新药研发, 基因编辑, CRO, CDMO</td></tr>
|
||
<tr><td>泰格医药</td><td><a href="https://valuefrontier.cn/company?scode=300347" target="_blank" class="link link-hover link-primary">300347</a></td><td>临床CRO龙头</td><td>临床试验, CRO</td></tr>
|
||
<tr><td>凯莱英</td><td><a href="https://valuefrontier.cn/company?scode=002821" target="_blank" class="link link-hover link-primary">002821</a></td><td>小分子CDMO</td><td>化学制药, CDMO</td></tr>
|
||
<tr><td>博腾股份</td><td><a href="https://valuefrontier.cn/company?scode=300363" target="_blank" class="link link-hover link-primary">300363</a></td><td>小分子CDMO</td><td>CRO, CDMO</td></tr>
|
||
<tr><td>昭衍新药</td><td><a href="https://valuefrontier.cn/company?scode=603127" target="_blank" class="link link-hover link-primary">603127</a></td><td>安评CRO</td><td>基因编辑, 动物试验, CRO</td></tr>
|
||
<tr><td>美迪西</td><td><a href="https://valuefrontier.cn/company?scode=688202" target="_blank" class="link link-hover link-primary">688202</a></td><td>临床前CRO</td><td>新药研发, AI制药, CRO</td></tr>
|
||
<tr><td>成都先导</td><td><a href="https://valuefrontier.cn/company?scode=688222" target="_blank" class="link link-hover link-primary">688222</a></td><td>药物发现CRO, AI制药</td><td>新药研发, AI制药, CRO</td></tr>
|
||
<tr><td>百诚医药</td><td><a href="https://valuefrontier.cn/company?scode=301096" target="_blank" class="link link-hover link-primary">301096</a></td><td>一体化药学服务</td><td>新药研发, CRO</td></tr>
|
||
<tr><td>阳光诺和</td><td><a href="https://valuefrontier.cn/company?scode=688621" target="_blank" class="link link-hover link-primary">688621</a></td><td>临床前及临床CRO</td><td>新药研发, CRO</td></tr>
|
||
<tr><td>药石科技</td><td><a href="https://valuefrontier.cn/company?scode=300725" target="_blank" class="link link-hover link-primary">300725</a></td><td>分子砌块, CDMO</td><td>新药研发, CDMO</td></tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
|
||
<!-- Other Related Table -->
|
||
<div x-show="activeTab === 'other'">
|
||
<table class="table table-zebra w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>股票代码</th>
|
||
<th>细分领域</th>
|
||
<th>相关标签</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr><td>迈威生物</td><td><a href="https://valuefrontier.cn/company?scode=688062" target="_blank" class="link link-hover link-primary">688062</a></td><td>小核酸, ADC, 双抗</td><td>生物制品, ADC, 双抗</td></tr>
|
||
<tr><td>康弘药业</td><td><a href="https://valuefrontier.cn/company?scode=002773" target="_blank" class="link link-hover link-primary">002773</a></td><td>眼科创新药</td><td>生物制药, 仿创大Pharma</td></tr>
|
||
<tr><td>一品红</td><td><a href="https://valuefrontier.cn/company?scode=300723" target="_blank" class="link link-hover link-primary">300723</a></td><td>痛风创新药</td><td>肝炎, 仿创大Pharma</td></tr>
|
||
<tr><td>京新药业</td><td><a href="https://valuefrontier.cn/company?scode=002020" target="_blank" class="link link-hover link-primary">002020</a></td><td>CNS创新药 (失眠)</td><td>肝炎, 中枢神经</td></tr>
|
||
<tr><td>方盛制药</td><td><a href="https://valuefrontier.cn/company?scode=603998" target="_blank" class="link link-hover link-primary">603998</a></td><td>创新中药</td><td>中药, 肝炎</td></tr>
|
||
<tr><td>康缘药业</td><td><a href="https://valuefrontier.cn/company?scode=600557" target="_blank" class="link link-hover link-primary">600557</a></td><td>创新中药</td><td>中成药</td></tr>
|
||
<tr><td>以岭药业</td><td><a href="https://valuefrontier.cn/company?scode=002603" target="_blank" class="link link-hover link-primary">002603</a></td><td>创新中药</td><td>中成药</td></tr>
|
||
<tr><td>药康生物</td><td><a href="https://valuefrontier.cn/company?scode=688046" target="_blank" class="link link-hover link-primary">688046</a></td><td>模式动物 (基因编辑)</td><td>基因编辑, 基础研究</td></tr>
|
||
<tr><td>东诚药业</td><td><a href="https://valuefrontier.cn/company?scode=002675" target="_blank" class="link link-hover link-primary">002675</a></td><td>放射性药物</td><td>放射性药物, 化学制剂</td></tr>
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<tr><td>申联生物</td><td><a href="https://valuefrontier.cn/company?scode=688098" target="_blank" class="link link-hover link-primary">688098</a></td><td>布局人用单抗</td><td>涨幅分析补充</td></tr>
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