年内涨幅达24%，科创医药指数ETF（588700）换手率超7%，机构：2025年有望成为医药行业的关键转折之年

Group 1 - The A-share market showed volatility on June 5, with the pharmaceutical sector experiencing a slight pullback, while the Kexin Pharmaceutical Index ETF (588700) fell by 0.68% with a turnover rate exceeding 7% and a premium/discount rate of 0.10% [1] - The Kexin Pharmaceutical Index ETF closely tracks the Shanghai Stock Exchange Science and Technology Innovation Board Biopharmaceutical Index, which selects 50 large-cap companies in biopharmaceuticals, biomedical engineering, biopharmaceuticals, and other related fields [1] - Year-to-date, the Kexin Pharmaceutical Index ETF has achieved a cumulative increase of 24% as of the latest closing date [1] Group 2 - According to the outlook from交银国际, 2025 is expected to be a pivotal year for the pharmaceutical industry, with short-term policy disturbances clearing up and more favorable policies anticipated in the second half of 2025 [2] - The industry is projected to experience strong high growth in profitability over the next two years, with short-term profit forecasts being gradually revised upward [2] - The recent collaboration between三生制药 and Pfizer for a PD-1/VEGF dual antibody deal, which includes a $1.25 billion upfront payment, has set a record for domestic innovative drug overseas transactions, fueling investment enthusiasm in innovative drugs [2]