According to the Zhitong Finance APP, Jiangyin International released a research report stating that this week, Zhejiang Province announced the first batch of innovative pharmaceutical technology medical insurance payment incentive catalog, which is expected to further alleviate the difficulties of innovative drugs entering hospitals. Overseas, although the Trump administration announced a 100% tariff on imported innovative drugs, the bank believes that its overall coverage is limited and the impact on China's pharmaceutical industry chain is controllable, suggesting continued attention to subsequent implementation and changes.
The report states that the ESMO conference will be held in mid to late October this year, and the bank recommends focusing on companies with significant data releases such as Akeso (09926), Kelun-B (06990), and RemeGen (688331.SH). The Hong Kong stock market's pharmaceutical sector performed relatively flat in September, but starting in October, with an increase in industry catalysts (various academic conferences and favorable policies), the market is expected to restart.
The bank continues to recommend focusing on the following sub-sectors: 1) Innovative drugs: 3SBIO (01530), ANTENGENE-B (06996) have abundant short-term catalysts, and their valuations have not yet reflected the core value of major products; SIMCERE PHARMA (02096), Hutchison China MediTech (00013), and Legend Biotech are significantly undervalued, with clear long-term growth logic; 2) CXO: leading sub-sectors benefiting from downstream high prosperity and marginal recovery in financing, such as WuXi AppTec (02268)

06996

01530

688331

09995

09926

02096

China Merchants Jinling International released a research report recommending attention to innovative drugs and the CXO sub-sector. Zhejiang Province announced a list of incentives for medical insurance payments for innovative pharmaceutical technologies, alleviating the difficulties of bringing innovative drugs into hospitals. Despite the Trump administration imposing a 100% tariff on imported innovative drugs, the impact is controllable. The October ESMO conference will focus on companies such as AKESO, Kelun-B, and RemeGen. It is expected that the pharmaceutical sector will restart in October, with recommendations to pay attention to 3SBIO, ANTENGENE-B, and SIMCERE PHARMA

Zhitong

ANTENGENE-B

3SBIO

RemeGen

REMEGEN

AKESO

SIMCERE PHARMA

China Merchants Jinling International: The pharmaceutical industry has abundant catalysts in the fourth quarter, focusing on high-quality innovative targets