中信建投：CXO行业调整基本完成重点关注出海能力强的CDMO企业及临床CRO龙头

智通财经2025-11-24

智通财经APP获悉，中信建投证券发布研究报告称，创新药领域呈现三大趋势：国际化2.0纵深发展，2025年license-out交易数达103个、首付款84.5亿美元创历史新高，自主出海企业享受估值溢价；政策支持力度空前，医保谈判效率提升并首次设立商保创新药目录；技术驱动持续突破，ADC、IO双抗、GLP-1减重、小核酸药物多点开花。CXO行业调整基本完成，海外需求稳定，国内投融资触底回升，重点关注...

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中信建投：CXO行业调整基本完成 重点关注出海能力强的CDMO企业及临床CRO龙头

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中信建投：CXO行业调整基本完成重点关注出海能力强的CDMO企业及临床CRO龙头