Mei Ri Jing Ji Xin Wen·2025-07-29 03:24Core Viewpoint - The innovative drug sector is experiencing significant growth, highlighted by a surge in stock prices and a notable partnership between Heng Rui Pharmaceutical and GlaxoSmithKline (GSK) for the development of up to 12 innovative drugs [1] Group 1: Market Performance - The innovative drug sector saw substantial gains, with Zai Lab rising over 16%, and Tigermed and Jiuzhou Pharmaceutical increasing by more than 8% [1] - The Tianhong Innovative Drug ETF (517380) rose approximately 5%, reaching a new high in this rebound, with a year-to-date increase of over 57%, making it the top-performing industry ETF [1] Group 2: Strategic Partnerships - Heng Rui Pharmaceutical and GSK have entered a collaboration agreement, with GSK paying a $500 million upfront fee and potential milestone payments totaling around $12 billion based on successful development, registration, and sales [1] - This partnership indicates a stronger trend of high-value external licensing for domestic innovative drugs and the gradual shift of global innovative drug R&D centers to China [1] Group 3: ETF Highlights - The Tianhong Innovative Drug ETF uniquely tracks the "Innovative Drug Industry Smart Beta Index," which includes opportunities from the Hong Kong, Shanghai, and Shenzhen markets [2] - The ETF focuses on the entire innovative drug industry chain, which helps mitigate uncertainties associated with investing in individual innovative drug companies, aiming for better risk-return characteristics and long-term investment returns [2] - The ETF includes both innovative drug companies and CXO enterprises, capturing growth opportunities in the innovative drug sector [3] - The ETF's quantitative indicators have been optimized for better performance, with a net value growth rate of 54.76% over the past year, outperforming the benchmark return of 50.36% by 4.4 percentage points [3]