近日，证监会官网上发布了关于对政协《支持未盈利生物制药企业在A 股创业板上市融资的提案》答复函，表示将依法创造条件引导尚未盈利或未弥补亏损的生物医药等创新企业发行股权类融资工具并在境内上市。这意味着，A 股有望成为未盈利生物医药企业上市的新选择。

Veterinary imaging market is classified based on products, animal types, and end-use. Product segment inclusive of instruments required for imaging that are radiography X-ray systems (direct radiography, computed radiography, film based radiography), ultrasound imaging devices (2-D, 3-D/4-D, doppler imaging devices), magnetic resonance imaging, computed tomography (multi slice and portable), video endoscopy imaging and other imaging devices. Animal types are further classified into small companion animals, large animals and other exotic birds & aquatic animals. Veterinary imaging devices found applications in various disciplines that are orthopedics and traumatology, oncology, cardiology, neurology, dentistry and ophthalmology End-use segment classified into hospitals/clinics and reference laboratories for veterinary applications. Geographically the market is studied with respect to five main regions such as North America, Europe, Asia Pacific, Latin America and MEA.

The blockchain technology is expected to disrupt the automotive value chain in the near future. The magnitude of its impact might vary from stake holders to stake holders, but it surely encompasses the whole value chain. This section of the research study throws light on the push and the pull forces operating in the automotive blockchain market. It further studies the impact of these forces on the market growth.

The blockchain technology is expected to disrupt the automotive value chain in the near future. The magnitude of its impact might vary from stake holders to stake holders, but it surely encompasses the whole value chain. This section of the research study throws light on the push and the pull forces operating in the automotive blockchain market. It further studies the impact of these forces on the market growth.

The blockchain technology is expected to disrupt the automotive value chain in the near future. The magnitude of its impact might vary from stake holders to stake holders, but it surely encompasses the whole value chain. This section of the research study throws light on the push and the pull forces operating in the automotive blockchain market. It further studies the impact of these forces on the market growth.

The face is widely regarded as a symbol of oneself and a smile as a window to one's personality. The teeth play an important role in the maintenance of a positive self-image and appearance; the loss of teeth may result in significant change in the appearance of a person that can profoundly disrupt one’s confidence and social activities. Missing tooth can change facial aesthetics, which may impact facial expressions and lead to social stigma. Hence, many people opt for aesthetic dental treatments, which help to boost their self-confidence. Tooth loss may be traumatic and upsetting and is regarded as a serious life event that requires significant psychological and social readjustment.

Gabon's consumer-facing sector will continue to be largely made up of informal street vendors and independent stores for the foreseeable future. The country's small population and low median income mean that few international retailers have expanded into the country, and those that are present are almost exclusively French, an indication of the countries' historical ties. Modern retail formats are present in the major urban areas of Libreville and Port-Gentil, but here, the organised sector remains small.

Gabon's consumer-facing sector will continue to be largely made up of informal street vendors and independent stores for the foreseeable future. The country's small population and low median income mean that few international retailers have expanded into the country, and those that are present are almost exclusively French, an indication of the countries' historical ties. Modern retail formats are present in the major urban areas of Libreville and Port-Gentil, but here, the organised sector remains small.

Tanzania's pharmaceutical market is among the largest in Sub-Saharan Africa. In 2017, Tanzania's pharmaceutical market was valued at TZS1.11trn (USD496mn), or 1.0% of GDP, with per-capita drug expenditure at just under USD9. This is fairly modest in global terms and even by regional standards. Due to low purchasing power, generic drugs comprise the majority of Tanzania's pharmaceuticals market, providing opportunities for companies focused on off-patent drugs. Patented drugs only hold a small market share as low per-capita drug expenditure continues to limit the capacity of most of the population to purchase higher-priced medication. Self-medication is prevalent in Tanzania, making the OTC medicine market an attractive prospect. Pharmaceutical sales accounted 26% of health expenditure.

新成立的国家医保局作为集采购权、定价权和支付权于一身的“超级买方”，对终端及上游药企都具有强大话语权，在后续集采和医保支付的执行过程中主导能力会更加凸显。推进通过一致性评价品种的带量采购降价成为医保局首要发力方向。原研面临最大危机，已通过一致性评价的品种可能在集采中获得六成以上市场，部分品种市场格局可能发生巨变。2018 年新一批抗癌药谈判目录发布，同步开始启动省际进口抗癌药集中采购和前批抗癌药降税后的价格调整工作，各地市陆续出台前期国家谈判抗癌药的医保支付标准，抗癌药品螺旋式降价将成常态。

伴随基因组学、蛋白组学、表现遗传学以及肿瘤生成免疫学机制的认识不断提升，肿瘤靶向药物研发突飞猛进，总结研究肿瘤靶向药物治疗研发进展。

2018 年 9 月 18 号中药材天地网综合 200 指数为 2296.10，相比 8 月21 号的 2322.58 略有下降。中药材价格指数 2016 年上涨较大，2017 年稳中略降，2018 年初略有上涨。 

医保局主导带量采购，建议对降价压力适度乐观。国家医保带量采购办法脱胎于上海GPO，基本思路是提升医保对药品采购使用的影响，取消质量分层，加剧竞争，以量换价，最终达到让医保基金降低总体用药花费的效果。带量采购优先级：质量＞供应＞价格，并非简单价格战。参考美国和日本经验，药品价格降幅与竞争者数量和现有价格体系紧密相关，本次带量采购总体降价压力不大。

在研发成本日益增高，研发成果不确定性日益增大的情况下，大型医药公司依靠自身研发实现产品线扩容存在较大的风险性，为确保公司未来收益，多数企业通常通过以品种为核心的投资、并购或引入，快速将优质畅销药品或拥有优质畅销药物的公司纳入旗下。

RNAi 是指与靶基因 mRNA 互补的短双链 RNA 诱导的序列特异性的转录后基因沉默现象。狭义的小核酸是指介导 RNAi 的短双链 RNA 片段（siRNA），本文探讨的小核酸范围与寡核苷酸（oligonucleotide）相近，涵盖了 siRNA、miRNA 和反义核酸等。小核酸药物，能特异性地静默疾病基因的表达，具有高特异性、高效性、长效性优势。

国务院办公厅印发《关于完善国家基本药物制度的意见》，安全性、性价比以及鼓励一致性评价是此次药物价值判断主旋律，华海药业、恒瑞医药等龙头企业的竞争优势将逐步显现。国内第二款PD-1单抗Keytruda定价完成。新一轮抗癌药主要医保谈判工作完成，建议关注有创新能力的内资医药龙头。 

2018 上半年，医药制造业主营收入同比增长 13.5%，利润同比增长 14.4%，较一季度增速有所回落主要由于流感行情和原料药普涨行情基本结束。行业整体呈复苏态势，在老龄化加剧、新版医保目录调整、药企竞争格局不断优化的大背景下，随着医改红利逐步释放，招标降价和医保控费的干扰趋于稳定，我们认为未来医药行业有望维持稳健的增长，行业龙头的优越性越发彰显。 

目前医药行业处于低估值、高增长时期，医药牛市的基础均没有变化，中报期及其之后的一段时间将有力的驱动医药指数走出独立行情，建议超配医药，持续推荐长春高新、我武生物，以及OTC板块的葵花药业、羚锐制药、片仔癀等相关标的。