Xin Lang Cai Jing·2026-01-14 04:15Group 1 - The MSCI China Healthcare Index has increased by 11.8% year-to-date, outperforming the MSCI China Index by 9.1% [1][4] - The pharmaceutical industry has seen significant growth, attributed to the valuation correction in Q4 of the previous year and strong allocation willingness from institutional investors at the beginning of the year [1][4] - Looking ahead to 2026, the trend of innovative drugs going overseas is expected to continue, with a focus on the clinical progress and data validation of pipelines that have already gone abroad [1][4] Group 2 - The estimated market size for patented drugs in China is approximately 300 billion to 400 billion RMB, accounting for about 25% to 35% of total drug sales in China [1][4] - Among this, domestically developed innovative drugs represent about one-third, translating to approximately 100 billion to 130 billion RMB [1][4] - The company recommends buying shares in Sanofi (01530), Genscript (02273), WuXi AppTec (02268), and China National Pharmaceutical Group (01177) [1][4]