创新药，大消息！

Core Insights - China has risen to the second position globally in new drug research and development, with multiple domestic innovative drugs receiving approval for market entry, filling gaps in relevant fields [4][3][1] Industry Developments - The National Health Commission announced that over 20% of the new drugs in development globally are from China, highlighting the country's growing capabilities in drug research [4][3] - Several innovative drugs, including Sugliumab, Ensartinib, and Gozetimab, have been approved, marking significant achievements in the domestic pharmaceutical sector [4][3] - The self-developed anti-tumor drug Zebutinib has also received approval in multiple countries, indicating successful international expansion [5] Market Performance - The A-share and Hong Kong stock markets saw a collective downturn in the innovative drug sector, with significant declines in leading stocks [6][8] - The Hong Kong CRO index dropped by 4.11%, with notable stocks like Gilead Sciences experiencing a drop of over 16% [7][8] - By midday, several stocks, including Tigermed and BeiGene, reported declines of over 10% and 6%, respectively, reflecting a broader market trend [8][10] Analyst Perspectives - Analysts maintain a long-term optimistic outlook for the innovative drug sector, suggesting that the quality of financial reports will improve significantly by 2025 [11] - Reports indicate that more products are entering the national medical insurance system, and the commercial revenue for innovative drugs is expected to grow rapidly [11] - The current market situation is seen as a time for selective stock picking, with historical data showing that the industry’s overall PE level is at its historical average [11]