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医药行业：多肽、ADC、中药等细分领域创新研发蓬勃兴起，CXO景气度有望逐步上行-20230826-安信证券

多肽、ADC、中药等细分领域创新研发蓬勃兴起，CXO景气度有望逐步上行为了更前瞻和领先地观测 CX0 行业的景气度变化，本篇报告我们从宏观、中观、微观多个视角对行业进行更为系统地跟踪，并发现目前宏观上创新药投融资周期有望见底、中观上多个细分领域创新研发蓬勃兴起、微观上部分CX0上市公司已逐步受益于创新需求提振，由此我们认为：CX0行业基本面逐步见底，多肽、ADC、中药等创新研发有望驱动其景气度逐

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