HTI医药2025年12月第三周周报：行业高景气，持续关注创新药械产业链

海通国际2025-12-23

（以下内容从海通国际《HTI医药2025年12月第三周周报：行业高景气，持续关注创新药械产业链》研报附件原文摘录）本报告导读：持续关注创新药械及产业链。投资要点：持续关注创新药械及产业链。创新药高景气，持续关注价值有望迎来重估的Pharma，如恒瑞医药、翰森制药、三生制药、科伦药业、恩华药业；持续关注创新管线逐步兑现、业绩进入放量期的Biopharma/Biotech，如科伦博泰生物、百济神州、...

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HEALTH(-5%)，达维塔保健(DAVITA)(-5%)，阿莱技术(ALIGN TECHNOLOGY)(-5%)。风险提示：医保控费加剧风险，政策推进不达预期风险，估值波动风险，市场波动风险。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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