ETF盘中资讯｜港股通创新药走低，520880跌逾1%宽幅溢价！机构：中国药企正从产品授权向技术输出转型

Group 1 - The Hong Kong innovative drug sector experienced a downward trend, with the Hong Kong Stock Connect Innovative Drug ETF (520880) dropping over 1% in early trading on February 26, 2023, despite active low-buying funds [1] - Among the constituent stocks, Jiage Ankang-B led with a gain of over 5%, while companies like BeiGene fell sharply by 3%, and others such as Kangzhe Pharmaceutical and CSPC Pharmaceutical Group dropped over 2% [1] Group 2 - The industry is witnessing active external licensing transactions, with Innovent Biologics and Eli Lilly forming a global strategic partnership focused on oncology and immunology, adopting a co-development model [3] - Key pipelines are making progress overseas, with CSPC Pharmaceutical Group starting two innovative drugs in Phase III clinical trials and receiving FDA IND approval, while Hansoh Pharmaceutical's Amivantamab was approved for sale in the EU [3] - Jianghai Securities predicts that by 2026, pharmaceutical business development (BD) transactions will focus on "unmet clinical needs," "technological differentiation," and "global value," with a focus on combination therapies in oncology and long-acting GLP-1 and small nucleic acid precision in metabolic diseases [3] - The Chinese innovative pharmaceutical companies are transitioning from "product licensing" to "technology output" strategies, with companies possessing relevant advantages likely to continue attracting attention from multinational pharmaceutical firms [3] - Huachuang Securities emphasizes the industry's shift from quantity to quality, entering a product-centric phase, and suggests focusing on differentiated domestic and international pipelines by 2025 [3] - The Hong Kong Stock Connect Innovative Drug ETF (520880) passively tracks the Hang Seng Hong Kong Stock Connect Innovative Drug Select Index, with its top ten weighted stocks including CSPC Pharmaceutical Group, BeiGene, and Innovent Biologics [3]