科创创新药ETF（589720）反弹超2%，年底预期将有更多BD兑现

Core Viewpoint - The pharmaceutical sector is experiencing a strong rebound, with the Guotai Innovation Drug ETF (589720) rising over 2% after a significant correction of nearly 18% from September 4 to October 14, indicating improved value for investment in innovative drugs [1] Group 1: Market Trends - The recent pullback in the pharmaceutical sector is seen as a buying opportunity due to the recovery in capital market financing and an increase in overseas trading scale for innovative drugs [1] - The demand for domestic innovative drug research and development is showing signs of recovery, supported by the anticipated interest rate cuts in the U.S. [1] Group 2: Investment Recommendations - Investors are advised to focus on the clinical progress of authorized innovative drug pipelines overseas, as this could yield significant returns [1] - The trend of innovative drugs going overseas is expected to continue, with more business development (BD) deals anticipated by the end of the year, historically a peak time for such transactions [1] Group 3: ETF Focus - The Guotai Innovation Drug ETF (589720) targets innovative drug companies on the Sci-Tech Innovation Board, tracking an index of 30 representative high-quality companies, primarily focusing on high-growth biotech [1] - The ETF's design includes a 20% limit on daily price fluctuations, making it more aligned with the volatility of the sector [1]