HK Stock Market Move | CRO concept stocks led the gains. Citi indicated that the outlook for U.S. licensing policy toward Chinese pharmaceutical companies is relatively positive, and it continues to be bullish on innovative drugs and biotechnology.

CRO concept stocks led the gains. As of press time, GENSCRIPT BIO (01548) rose 9.16% to HK$43.38; Asymchem Laboratories (06821) rose 3.81% to HK$155.4; WuXi AppTec (02359) rose 2.44% to HK$210; WUXI BIO (02269) rose 2.31% to HK$53.1; Hangzhou Tigermed Consulting (03347) rose 1.15% to HK$45.62. On the news front, on September 21, according to Reuters, the U.S. Treasury Department is drafting new rules targeting biotechnology investment in China. Unlike the broad restrictions previously advocated by some U.S. congressmen, the plan under discussion may focus on restricting pathogens and biotechnology that could be weaponized. This means the new rules will not impose a blanket ban on all cross-border biomedical transactions, and conventional anti-cancer innovative drugs such as oncology ADCs and bispecific antibodies will be allowed for overseas pharmaceutical companies to acquire pipelines and engage in licensing BD collaborations. Citi published a research report stating that the bank held another expert conference call on the 24th to discuss the outlook for U.S. policy regarding pharmaceutical licensing arrangements involving Chinese companies. It believes the outlook for U.S. policy on pharmaceutical licensing originating from China is relatively positive, and holds a constructive view on innovative drugs and biotechnology. Nomura stated that China Meheco Group's "15th Five-Year Plan" highlights innovation and globalization, which is beneficial to innovative pharmaceutical companies and CRDMOs.