Hong Kong stock concept tracking | National Medical Products Administration optimizes the review and approval of urgently needed overseas marketed drugs Clinically | Continued high prosperity of innovative drugs (with concept stocks)

Journalists learned from the National Medical Products Administration that in order to speed up the listing of urgently needed overseas marketed drugs in domestic markets to meet the urgent clinical needs of patients, the NMPA is further optimizing the evaluation and approval of such drugs. The NMPA stated that it is committed to clinical value orientation, encouraging applicants to conduct global synchronized research and simultaneous application for listing in China; encouraging overseas marketed original and generic drugs urgently needed in clinical practice to apply for listing domestically, and those meeting the requirements can be included in the priority evaluation and approval range. The announcement revealed that the NMPA will optimize evaluation mechanisms to accelerate the evaluation process; at the same time, it will also improve the inspection system to reflect the characteristics of the products. By 2025, China has approved 76 innovative drugs for listing, significantly exceeding the 48 approved in the entire year of 2024, reaching a historic high. In addition, in 2025, the total amount of foreign authorized transactions for innovative drugs in China exceeded $130 billion, with over 150 transactions, also setting a historic high. It is understood that the 76 innovative drugs approved for listing by the NMPA in 2025 include 47 chemical drugs, 23 biological products, and 6 traditional Chinese medicines. Among the 47 chemical drugs, 38 are domestically innovative drugs and 9 are imported innovative drugs, with domestic innovations accounting for 80.85%; among the 23 biological products, 21 are domestically innovative drugs and 2 are imported innovative drugs, with domestic innovations accounting for 91.30%. Various breakthrough policies in the industry have been implemented, with the first edition of the "Commercial Health Insurance Innovative Drug Catalog" officially released in December 2025, establishing a multi-level payment system of "basic medical insurance for basics, commercial insurance for innovation", opening up a new market route for high-value innovative drugs. Looking forward to 2026, industry insiders generally believe that with the support of industrial policies for true innovation and high-level innovation, a large number of innovative drugs will be intensively launched. With the dual promotion of commercial insurance implementation and optimization of centralized procurement, the high prosperity of the innovative drug industry chain is expected to continue, and high-value innovative drugs are expected to usher in a second growth curve. Hong Kong-listed innovative drug companies include: Jiangsu Hengrui Pharmaceuticals (01276), SKB BIO-B (06990), HUTCHMED (00013), AKESO (09926), INNOVENT BIO (01801), CSPC PHARMA (01093), REMEGEN (09995), 3SBIO (01530), JACOBIO-B (01167), LAEKNA-B (02105), HANSOH PHARMA (03692), and others. Leading companies in the CXO sector: Asymchem Laboratories (06821), Pharmaron Beijing (03759), Joinn Laboratories (06127), WUXI BIO (02269), WuXi AppTec (02359), etc.