港股创新药板块反弹，港股通创新药ETF易方达（159316）标的指数涨超4%，研发与BD双轮驱动景气回升

Core Insights - The Hong Kong innovation drug sector has shown a significant recovery, with the Hang Seng Innovation Drug Index rising by 4.5% as of 14:00, driven by strong performances from key stocks such as InnoCare Pharma-B, which increased by over 10% [1] - Recent breakthroughs in innovative drug development include the approval of the first domestically developed CTLA-4 inhibitor, "Daboshu," by Innovent Biologics, and the approval of the TROP2 ADC "Trastuzumab Deruxtecan" for breast cancer by AstraZeneca and Daiichi Sankyo, enhancing the competitive landscape of ADCs [1] - The volume of business development (BD) transactions in innovative drugs continues to grow, with a record total authorization amount of $135.655 billion and 157 transactions in 2025, highlighting significant market activity [1] - Notable licensing deals include the $2 billion authorization of CBP-1018 by Tongyi Pharmaceutical and a $1.06 billion deal for the ADC drug SIM0613 by Ascletis, along with a collaboration exceeding $2 billion between Gossamer Bio and AstraZeneca for a pan-KRAS inhibitor [1] - Pacific Securities indicates that the pharmaceutical and biotechnology industry is entering a critical phase of innovation realization and global expansion, with a potential performance inflection point and valuation reshaping expected by 2026 [1] Industry Overview - The Hang Seng Innovation Drug Index is the first "pure" innovation drug index with 100% purity, focusing on leading companies in the Hong Kong innovation drug sector [2] - The E Fund Innovation Drug ETF (159316) is currently the only product tracking this index, providing investors with a streamlined way to capitalize on investment opportunities in the sector [2]