Open Source Securities: Innovative drugs are the preferred choice in the pharmaceutical sector, focusing on the recovery of consumer demand.

Open source securities research report shows that in 2025, the innovative development of the pharmaceutical industry will be fully promoted, with a clear focus on optimizing drug centralized procurement and improving pharmaceutical policies. At the same time, the rapid growth of unmet clinical needs under the background of aging population, continuous improvement of corporate innovation capabilities, and other long-term industry trends remain unchanged. Following the new cycle driven by innovative drugs, normalization of medical compliance, and gradual recovery of consumer healthcare, the pharmaceutical sector is expected to return to stable growth. Looking ahead to the second half of 2025, Open Source Securities believes that the focus should be on innovative drugs and the recovery of consumer spending.