创新药行业有多火爆？券商策略会门外都是人，TMT基金也来跨界关注

Group 1 - The innovation drug sector is experiencing a significant surge in interest, comparable to recent high temperatures, with major events attracting over 130 institutions [1] - The innovation drug index has seen substantial gains, with a 28.65% increase in the domestic market and a 64.86% rise in the Hong Kong market as of June 13 [3] - Smaller market cap companies with breakthrough therapies and overseas expansion potential are leading the sector's growth, such as Shuyou Shen and Yipin Hong [5][6] Group 2 - The trend of TMT and electronic funds investing in innovation drugs indicates a shift in focus, with these funds showing increased interest in companies previously overlooked by traditional pharmaceutical analysts [4] - The number of license-out projects from Chinese pharmaceutical companies has surpassed license-in projects for the first time, indicating a shift towards global collaboration and market expansion [7] - The Chinese pharmaceutical industry is witnessing a rapid increase in drug development, with 6,280 drugs in the pipeline as of 2024, a 1200% increase over the past decade [10] Group 3 - Cross-border pharmaceutical companies are increasingly acquiring Chinese innovation assets, driven by the need to replenish their product pipelines amid patent expirations [9] - The cost of drug development in China is significantly lower than in the U.S., attracting multinational companies to invest more in Chinese R&D [11] - China's share of global innovation drug pipelines has reached 36%, with notable advancements in cutting-edge fields such as ADC and bispecific antibodies [11]