上周SW 医药指数上涨0.33%，我们的进攻组合下跌0.23%，稳健组合下跌2.27%。当前我们进攻组合19 年初以来累计收益103.73%，稳健组合累计收益90.60%，分别跑赢医药指数60.48 和47.35 个百分点。

1. 最新研究观点 ................................................................................................................................................ 3

1.1 一周热点动态跟踪 ............................................................................................................................................. 3

1.2 最新观点 ............................................................................................................................................................ 4

1.3 推荐组合 ............................................................................................................................................................ 8

1.4 国内外行业及公司估值情况 ........................................................................................................................... 10

1.5 风险提示 .......................................................................................................................................................... 17

附录： .............................................................................................................................................................. 18

投资观点——基金持仓 .......................................................................................................................................... 18

银河活动——调研回顾 .......................................................................................................................................... 19

行情跟踪——行业行情 .......................................................................................................................................... 19

行情跟踪——子行业行情 ...................................................................................................................................... 20

行情跟踪——个股行情 .......................................................................................................................................... 20

行业动态——行业新闻及点评 .............................................................................................................................. 21

近期研究报告.......................................................................................................................................................... 21

股东大会时间披露.................................................................................................................................................. 27