Core Viewpoint - The pharmaceutical sector is experiencing a rebound, driven by leading companies such as Heng Rui Pharmaceutical and Mai Rui Medical, with significant movements in both A-shares and Hong Kong stocks [1][4]. Group 1: Market Performance - A-shares saw leading pharmaceutical stocks like Heng Rui Pharmaceutical and Bai Li Tian Heng driving the sector's growth, with the only pharmaceutical ETF (562050) continuing to rise [1]. - The largest medical ETF (512170) in the market gained 0.78%, marking two consecutive days of increases despite overall market fluctuations [1]. - The Hong Kong innovation drug sector showed resilience, with the high-profile Hong Kong innovation drug ETF (520880) initially surging by 1.6% before closing up 0.48%, indicating strong buying interest [2][4]. Group 2: Company Developments - Heng Rui Pharmaceutical announced a licensing deal for its innovative drug SHR-A1811, potentially generating up to $1.093 billion in revenue, marking its second major overseas deal in September [4]. - The company also secured a licensing agreement with Braveheart Bio for another drug, HRS-1893, with a potential revenue of up to $1.013 billion [4]. Group 3: Investment Strategies - Analysts suggest that the current period may represent a golden opportunity for investing in innovative drugs, with a focus on balancing investments across different segments of the pharmaceutical sector [6][8]. - The Hong Kong innovation drug ETF (520880) has seen significant inflows, with net subscriptions exceeding 640 million yuan over the past 20 trading days, indicating strong investor interest [6]. Group 4: Sector Outlook - The overall strategy for the pharmaceutical sector remains positive, with expectations of sustained performance driven by policy support and clear trends in earnings [8]. - Recommendations include focusing on both innovative drugs and underperforming segments like medical devices and services for a balanced investment approach [8][9].