HK Stock Market Move | Innovative drug concept continues to strengthen, industry business development and performance catalyze. Multiple innovative drugs will be unveiled at the AACR annual meeting next month.

The concept of innovative drugs continued to strengthen in the afternoon, as of the time of publication, CSPC PHARMA (01093) rose by 12.87% to HKD 9.21; EVEREST MED (01952) rose by 11.92% to HKD 38.82; 3SBIO (01530) rose by 9.02% to HKD 23.68; LEPU BIO-B (02157) rose by 8.54% to HKD 5.59; INNOVENT BIO (01801) rose by 7.93% to HKD 85.7. On the news front, the innovative drug BD has remained strong since the beginning of the year. Data shows that as of March 21, 2026, the total offshore BD package for innovative drugs in China has reached USD 57.1 billion, with an initial payment of USD 3.3 billion and a total of 53 deals. The total package is equivalent to 41% of the full year 2025, exceeding the full year level of 2024. In addition, several pharmaceutical companies have recently disclosed impressive performances, with INNOVENT BIO achieving a total revenue of CNY 13.042 billion in 2025, a year-on-year increase of 38.4%; achieving a net profit attributable to the mother of CNY 814 million, a year-on-year increase of 959.72%, marking the company's first annual profit. Of note, the AACR Annual Meeting will be held in San Diego, USA from April 17-22, 2026, where 104 Chinese pharmaceutical companies will showcase more than 250 innovative drugs. Industrial believes that several Chinese cancer innovation drug companies are expected to release important clinical data at the meeting, which is worth looking forward to. It is important to continue monitoring the progress of innovative drug products going offshore. Despite a slight adjustment in the innovative drug sector in the previous period, the global competitiveness of Chinese cancer innovation drugs continues to strengthen, with the offshore deployment and commercial profitability realization of the industry logic remaining unchanged, and the catalyst for BD+ performance continues.