交银国际继续重点推荐医保谈判潜在受益标的，包括康方生物(09926)、先声药业(02096)、传奇生物(LEGN.US)、云顶新耀-B(01952)等短期催化剂丰富、盈利高增长或盈亏平衡时间点明确、估值有较大修复弹性的创新药标的，同时建议关注：1)消费属性较强的民营医疗服务和医美标的;2)市值与基本面偏离较大的中小型创新药企，流动性改善后的反弹弹性将十分可观;3)股息率高、有望受益于行业整体基本面改善的医药商业流通标的。BOC International continues to focus on recommending potential beneficiaries of health insurance negotiations, including Kangfang Biotech (09926), Xiansheng Pharmaceutical (02096), Legendary Biotech (LEGN.US), and Genting Xinyao B (01952).
The Zhitong Finance App learned that BOC International released a research report stating that the second batch of national Chinese herbal medicine tablet collection has begun. On November 13, the Procurement Office of the National Chinese Medicine Tablet Federation issued a document announcing the start of the second batch of joint procurement of Chinese medicine tablets and filing reports. This time, the collection of Chinese medicine tablets has been expanded nationwide to include 45 varieties. The drugs to be selected were determined through comprehensive review and bidding. The reduction of more than 20% and the price difference of 1.2 times were the key factors to be selected. The second batch of price controls for consumables and reagents was launched nationwide. The scope of treatment this time is to charge for 10 tumor markers. It is worth noting that the 10 tumor markers in this price adjustment coincided with the recent collection of in vitro diagnostic reagents in 27 provinces led by Anhui Province.
The bank said that in view of the moderate price reduction in traditional Chinese medicine collection in the past, the bank expects that in this round of collection, leading companies will be expected to exchange price for volume, and industry concentration will further increase. Furthermore, as two batches of price controls related to reagents are carried out one after another across the country, it is expected that more reagents and consumables will be included in the future. The pharmaceutical sector recently rebounded slightly after a sharp shock. Considering that the sector's valuation is still at the bottom of history, compounded by subsequent favorable fiscal and health insurance/commercial insurance policies and improvements in liquidity, the bank believes there is still room for further restoration.
BOC International continues to focus on recommending potential beneficiaries of health insurance negotiations, including innovative drug brands with rich short-term catalysts such as Kangfang Biotech (09926), Xiansheng Pharmaceutical (02096), Legendary Biotech (LEGN.US), and Genting Xinyao-B (01952), which are rich in short-term catalysts, have high profit growth or break-even time points, and highly restorative valuations. At the same time, it is recommended to focus on: 1) Small and medium-sized innovative pharmaceutical companies with strong consumer attributes; 2) Small and medium-sized innovative pharmaceutical companies that deviate greatly from fundamentals will rebound after improving liquidity Very impressive; 3) The dividend ratio is high and promising Pharmaceutical commercial distribution targets that have benefited from improvements in the overall fundamentals of the industry.
