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雷达卡
【出版时间及名称】：2009年11月中国医疗行业研究报告
【作者】：BNP百富勤
【文件格式】：PDF
【页数】：52
【目录或简介】：
Contents
1) Continue to outperform in 2010E expected............................................................................................................................ 3
Sector outperformed year-to-date...................................................................................................................... 3
Further upside potential in 2010......................................................................................................................... 3
Business model forward: “Western” + “Emerging” to extend long-term growth................................................. 5
Consolidation and collaboration evolving........................................................................................................... 7
Risks and uncertainties at manageable levels................................................................................................... 7
2) Chinese medical reform – reality check.................................................................................................................................. 9
RMB850b package............................................................................................................................................ 9
Measure No. 1 – Healthcare insurance coverage............................................................................................ 10
Measure No. 2 – Essential Drug List................................................................................................................ 12
Measure No. 3 – Medical services and infrastructure...................................................................................... 13
Measure No. 4 – Public health and others....................................................................................................... 13
Measure No. 5 – State-run hospital reform...................................................................................................... 13
3) Value of Life – sector deserves a re-rating ............................................................................................................................ 14
Cross-sector Comparison ............................................................................................................................... 14
Within-sector comparison................................................................................................................................ 16
Healthcare sector outperforms the index in other markets .............................................................................. 17
Valuation of global peers during the high-growth period.................................................................................. 18
Re-rating in progress....................................................................................................................................... 18
Stocks.............................................................................................................................................................. 18
4) Company updates................................................................................................................................................................... 21
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