创新药继续狂飙，创新药ETF国泰（517110）涨超1%，年内涨幅达30%

Group 1 - The core viewpoint highlights the significant growth of China's innovative pharmaceuticals, with the innovation drug ETF Guotai (517110) rising over 1% and achieving a year-to-date increase of 30% [1] - The ASCO 2025 conference showcased a record high of 73 oral presentations from China, with 184 ADC pipeline studies selected, of which 89 (approximately 48.4%) are from Chinese companies [1] - Chinese enterprises contributed around 34 dual-antibody research projects, accounting for about 49% of the total dual-antibody studies presented [1] Group 2 - Relevant institutions indicate that after over a decade of substantial capital investment, the domestic pharmaceutical industry is entering a phase of innovation results realization, leading to a significant market trend change [1] - The biotech sector, which had previously experienced a downturn, is rapidly recovering, indicating the start of a new growth cycle driven by fundamentals and innovation [1] - Under the current domestic innovative payment system, some innovative products have achieved a positive cycle of R&D investment returns, with sales reaching new highs and overseas clinical data being released [1]