Chen Chen, a medical industry analyst at UBS Securities Research Department, said that the trend of pharmaceutical stocks was strong in the first half of last year and weakened by negative news such as US sanctions in the second half of last year, pointing out that the performance of innovative drugs and R & D outsourcing factories (CRO) was guaranteed, their market capitalization was low, and supported by national policy, and was optimistic about the trend of such pharmaceutical stocks in 2022.
Chen Chen said that in the medical device sector, we are optimistic about the corneal plastic lens industry, which may become the fastest growing category of high-value ophthalmic consumables, and the national myopia prevention and control policy escorts the development of the industry, and the advantage of keratoplasty lens in the treatment of myopia is obvious. According to the bank, the penetration rate of the industry is currently low, and it is estimated that the penetration rate of the domestic keratoplasty industry will reach 3.4% in 2025, corresponding to a compound annual growth rate of 22% from 2021 to 2025.
Chen Chen pointed out that COVID-19 test box competition is fierce, that the R & D capability is high, provide home testing technology, and products can be sold in the United States test box business performance is more positive. She added that the price of PD-1 inhibitors is very low in the mainland, and the competition is fierce, so it is necessary to invest in some prospective overseas companies.
Chen Chen said that the "neutral" view on proprietary Chinese medicine stocks means that the stock price of the traditional Chinese medicine sector has risen recently, mainly because the valuation of traditional Chinese medicine was low earlier, and Chinese medical institutions can not pay according to disease diagnosis related grouping (DRG) for the time being, but its current valuation is not low, and it is necessary to be cautious in pursuing high prices, and it is difficult to judge the efficacy of most proprietary Chinese medicines. It is believed that proprietary Chinese medicines with consumer goods, non-therapeutic and brand endorsements have advantages.