创新药ETF天弘（517380）跌超2%，机构：创新药后续行情仍然可期

Group 1 - The core viewpoint is that China's innovative drug sector is experiencing significant growth and transformation, with a notable increase in research presentations at international conferences like ASCO, indicating a shift from following to potentially leading in global innovation [1][2] - The Tianhong Innovative Drug ETF (517380) is the only ETF tracking the Hang Seng-Hu-Shen-Hong Kong Innovative Drug Selected 50 Index, which includes leading companies in the innovative drug sector, highlighting the high concentration of innovation within the index [1] - In 2025, it is projected that China will have a record number of research presentations at ASCO, with 73 studies selected, showcasing the country's growing influence in the global pharmaceutical landscape [1][2] Group 2 - The Chinese innovative drug industry has seen a dramatic increase in the number of research presentations, from just 1 in 2015 to an expected 70+ in 2025, reflecting a significant leap in development and competitiveness [2] - The total amount of license-out transactions for Chinese innovative drug companies has reached $45.5 billion in 2023, indicating strong international collaboration and market potential [1] - The combination of clinical research cost advantages, leading-edge technologies, and improved payment systems is creating a favorable environment for profitability and valuation re-evaluation in the innovative drug sector [2]