Hengrui Pharma(SH:600276) Shanghai Securities·2025-06-04 04:55Investment Rating - The industry investment rating is "Overweight (Maintain)" [1] Core Viewpoints - The report highlights the significant achievements of domestic innovative drugs, showcasing their strong research and development capabilities at international events like the ASCO annual meeting [5][4] - The approval of multiple innovative drugs by the National Medical Products Administration (NMPA) indicates a trend of successful outcomes in the industry [4] - The report suggests focusing on companies such as Heng Rui Medicine, Fosun Pharma, and China National Pharmaceutical Group due to their promising prospects [5] Summary by Sections Industry Overview - The pharmaceutical and biotechnology industry is experiencing a surge in innovative drug approvals, with 11 new drugs approved recently, covering various treatment areas including rare diseases and pediatric medications [4] - Notable companies like Heng Rui Medicine have received approvals for several innovative drugs, enhancing treatment options for patients with specific conditions [4] Recent Developments - The ASCO annual meeting showcased over 70 original research projects from Chinese researchers, with significant participation from local innovative pharmaceutical companies [3] - Heng Rui Medicine had 72 research projects accepted, including 70 focused on innovative drugs, covering a wide range of cancer treatment areas [3] Investment Recommendations - The report recommends investors to pay attention to companies that have demonstrated strong performance and innovation in drug development, particularly Heng Rui Medicine, Fosun Pharma, and China National Pharmaceutical Group [5]