HK Stock Market Move | Innovative drug concept stocks rebound across the board, with 38 new innovative drugs approved for listing in the first half of the year, with domestic products accounting for over 80%.

The concept stocks of innovative drugs have rebounded across the board. As of the time of publication, REMEGEN (09995) rose by 8.2% to 82.5 Hong Kong dollars; KEYMED BIO-B (02162) rose by 8.08% to 88.25 Hong Kong dollars; ASCLETIS-B (01672) rose by 6.93% to 8.95 Hong Kong dollars; AKESO (09926) rose by 6.06% to 93.7 Hong Kong dollars. On the news front, Tao Qing, the spokesperson of the Ministry of Industry and Information Technology and director of the Operation Monitoring Coordination Bureau, stated at a press conference of the State Council Information Office that in the first half of this year, 38 innovative drugs were approved for marketing, including 31 domestically produced innovative drugs, accounting for over 80%. It is worth noting that the external technology licensing for innovative drugs has reached a new high, with a total transaction amount exceeding 100 billion US dollars in the first half of this year, fully demonstrating the systematic leap in the innovation quality of China's pharmaceutical industry. Liang Furui, manager of the Great Wall Pharmaceutical Industry Fund, believes that under the asset shortage, innovative drugs have similar technological attributes and can withstand some capital inflows, but the pace is more independent. Currently, funds are flowing into innovative drugs mainly due to several key factors in the second half of the year, including the intensive disclosure period of semi-annual reports in July and August, the WCLC (World Lung Cancer Conference) and ESMO (European Society for Medical Oncology Annual Conference) in September and October, the adjustment of the medical insurance/commercial insurance directory in October and November, and the ASH+ pre-Christmas business development peak season in December. If the data + business development continuously materialize during these periods, innovative drugs may potentially become the second wave of trending market.