根据国内的新增确诊病例增长情况，我们判断国内疫情基本进入发展 后期。目前一部分增量来自于境外输入，但是国内尤其是重点城市在 过去两个月内积累了充分的应对新冠疫情的防控诊疗经验与能力，我 们判断国内对于后续的境外输入会有充分的应对，由于境外输入导致 的国内疫情二次爆发的概率很小。

结论：（1）海外疫情依然处于爆发中，尚未看到明显的拐点数据出现。（2）国内疫情已进入末期，近期需警惕境外输入病例对国内疫情进展的影响。

本报告主要解读日本上市药房的股价表现背后因素（EPS增厚），分析日本药房行 业的成功/失败经验以及对国内企业的启示。此篇报告系统性梳理了日本行业的关 键发展节点及医药零售上市公司成功/失败基因。

上周百奥泰逆势上涨，周累计涨幅2.90%，市值221.74 亿，成为唯一上涨的科创板医药公司。其余个股均有下跌，其中东方生物和南微医学跌幅较大，周累计跌幅均达到15.05%，月累计跌幅分别为32.02%及9.39%。我们认为科创板作为鼓励创新药械的融资平台，技术的创新性和稀缺性成为奠定市值的基础，建议把握相关公司创新产品研发持续迭代过程中投资机会。

生物样本库建设必要性：生物样本库是转化医学与精准医疗基础，国家重 要战略资源；在转化医学领域，无论是“从实验室到病床”还是“从病床 到实验室”的转化研究，均需进行大量生物样本分析，生物样本库是决定 转化医学发展速度与程度的最重要因素之一；在精准医疗领域，精准医疗 实施的前提条件是有丰富的临床患者及人群队列样本可供分析、对比与验 证，以精确寻找靶点、精准分类疾病，生物样本库的规模和质量一定程度 决定精准医疗进程；同时，生物样本库是保护国家生物资源和人类遗传资 源安全、避免潜在生物威胁重要手段。

人类社会发展几千年历史，传染病伴随其中，人类发展史就是一部与传染病作斗争的历史。世界历史较大的几次传染病事件有中世纪欧洲鼠疫，导致当时相当于三分之一欧洲人口的死亡；1918 年西班牙大流感，在1918~1919年曾经造成全球约10 亿人感染，导致2500 万-4000 万人死亡，死亡人数超过一战和二战死亡人数总和；2020 年，新冠肺炎爆发并全球蔓延，截止目前（2020.3.20），全球已经超过25 万感染病例，死亡人数过万人。

我们回顾了2005 年WHO 设立国际关注的突发公共卫生事件（PHEIC）机制以来，除本次新冠疫情外的5 次PHEIC，以及同为冠状病毒引起的非典和MERS疫情。历次疫情涉及六种病毒（甲型H1N1、脊髓灰质、寨卡、两次埃博拉、非典、MERS），截至目前为止对于其疫苗的研发进展：（1）仅有一种病毒的疫苗从立项研发到获批上市，是在疫情的大规模流行期间完成的，即H1N1 甲流疫苗（当时已具备成熟的流感疫苗制备工艺）。（2）共有3 种病毒疫苗目前获批上市，分别为H1N1 甲流疫苗、脊髓灰质疫苗（在该PHEIC 之前早已上市）、埃博拉疫苗（从启动临床I 期到获批注册用时3-5 年）。（3）寨卡疫苗的研发始于15 年，目前最快的进入临床三期；MERS 疫苗最快的16 年进入临床一期，目前进入临床二期；SARS 疫苗的研发先后停摆。

The market studied is currently being driven by factors, such as the rising incidence of breast cancer, an increasing number of breast augmentation procedures, and technological advancements. Currently, breast cancer is the leading cause of cancer-related deaths among women in the world's developing regions. According to the National Cancer Institute, an estimated number of 252,710 women were diagnosed with breast cancer in 2017. Furthermore, 230,815 American women were diagnosed with breast cancer in 2013. Over 3.1 million American women were affected by breast cancer, as of March 2017. Moreover, it is estimated that the risk of an individual dying from breast cancer may increase in the coming years.

The market studied is currently being driven by factors, such as the rising incidence of orthopedic, cardiac and neurosurgery, increasing number of surgical procedures, and technological advancements. Biosurgery products are used in various surgeries and repair weakened and damaged tissues and bones. Biosurgery has opened a new paradigm in surgical care, wound and tissue management, and regenerative healing. It has even unlocked new potential in regenerative healing with the right mix of biologics and synthetics. The other major factors attributing to the growth of the biosurgery market are increasing geriatric population, rising number of chronic diseases related surgeries, and strong focus on R&D leading to the launch of new and advanced products.

The cancer therapy market is largely driven by increasing global prevalence of cancer; hence, cancer therapies must be modified according to regional and national priorities. According to the World Cancer Research Fund, in 2018, there were an estimated 18 million cancer cases, around the world, out of which, 9.5 million cases were in men and 8.5 million in women. Lung and breast cancers were the most common, globally, and they contributed 12.3% of the total number of new cases that were diagnosed in 2018. Along with this, due to the rising prevalence of cancer in every part of the world, various governments, around the world, have established various initiatives for cancer awareness that are illustrating broad approaches for preventing and monitoring cancer.