Hong Kong stocks concept tracking | BEIGENE becomes the domestic "innovative drug leader" institutions optimistic about the estimated value repair of innovative drugs in 2025 (with concept stocks)

On February 21, BEIGENE surpassed Jiangsu Hengrui Pharmaceuticals with a market value gap of 27 billion yuan, becoming the "leader in innovative drugs". BEIGENE's innovative drug revenue has been growing rapidly, with outstanding global sales of its BTK inhibitor zanubrutinib. BEIGENE's record-high market value is supported by its performance, and it is expected to have a positive operating profit for the full year of 2025. A Guotai Junan research report stated that the top innovative pharmaceutical companies' research and development and sales systems are mature, with steady cost growth. With the continued commercialization of core products, many companies are nearing the turning point of profitability, and innovation is entering a period of harvest. The focus is on segment leaders with significant product differentiation advantages and high innovative attributes. Sinolink released a research report recommending the continued implementation of the two major strategies of AI medicine + innovative drugs in 2025. In the field of AI medicine, there is continued market attention in areas such as diagnostic imaging equipment, drug design and development, internet healthcare, and big health. It is recommended to actively invest in leading companies in these three application areas. In terms of innovative drugs, it is recommended to continue to focus on leading enterprises in major tracks such as tumor ADC, immunotherapy, diabetes endocrinology, etc. Zhong Yin International released a research report stating that benefiting from the optimization of domestic drug price policies, improvement in the domestic macro environment, and expectations of overseas interest rate cuts, the pharmaceutical industry is expected to continue to see valuation recovery in 2025. The inclusion of innovative drugs in the national basic medical insurance catalog is expected to provide a better payment environment for innovative drugs. The acceleration of medical device bidding will drive the profitability recovery of domestic medical device companies. The bank expressed optimism about the industry's valuation recovery. Hong Kong stocks related to innovative drugs include INNOVENT BIO (01801), BEIGENE (06160), 3SBIO (01530), GIANT BIOGENE (02367), WuXi AppTec (02359), SKB BIO-B (06990), AKESO (09926), INNOCARE (09969), etc.