<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OctzJS5ut-S33lAQR0NHRu4juO0wJ7TYarvg4B6etmutwAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OctzJS5ut-S33lAQR0NHRu4juO0wJ7TYarvg4B6etmutwAA/641"/>
As of March 24th, 14:00, the pharmaceutical sector is rising against the trend, with KEYMED BIO-B (02162.HK), INSILICO (03696.HK), VILITZ BIO-B (09887.HK), KELUN-BIOTECH (06990.HK), and CANFO BIO (09926.HK) leading the gains. The E Fund Hang Seng SCHK Innovative Drug ETF (159316) rose by 2.46%, with the industry overall showing a dual-driven pattern of CXO pharmaceutical outsourcing services and ADC antibody-drug conjugates innovation drugs. The performance and orders of leading companies continue to reflect high prosperity, and the industry policy environment is becoming more stable, gradually revealing the allocation value of the sector.
The performance of CXO leaders is steadily recovering, with leading company WuXi AppTec (02359.HK) achieving double-digit revenue growth in 2025. The TIDES business in peptides/oligonucleotides has doubled, becoming a core growth engine; the company has abundant orders on hand, with revenue growth guidance for 2026 reaching 18%-22%. As capacity utilization increases and the proportion of high-margin businesses rises, gross margins continue to improve, while the global supply chain position remains solid, and revenue in the U.S. market maintains rapid growth.
ADC innovative drugs are gradually entering a harvest period, with core products steadily advancing in domestic commercialization, and expectations for volume growth increasing after being included in medical insurance. Overseas clinical data will be released successively by the end of 2026; the technology platform continues to be implemented and transformed, achieving multiple licensing collaborations with overseas pharmaceutical companies, with significant contributions from upfront payments and milestone revenues. The multi-target pipeline layout is complete, and combination therapy further opens up growth space. The CRDMO leader in bioconjugates has strong pipeline momentum, with orders on hand increasing by over 50% year-on-year.
At the industry level, policy marginal stability is trending, with the normalization of innovative drug review and approval and medical insurance negotiations, continuously validating the commercialization capabilities of leading companies. The global industrial chain division of labor is deepening, with China's pharmaceutical outsourcing and innovative drug R&amp;D global share continuously increasing, and industry concentration is rising, with the leading moat deepening due to advantages in technology, capacity, and customers.
To seize the high prosperity opportunities in the pharmaceutical sector, two core ETF targets can be focused on: in the biotechnology field, pay attention to the E Fund Hang Seng Biotechnology ETF (159105), and in the innovative drug field, focus on the E Fund Hang Seng SCHK Innovative Drug ETF (159316).

588860

159849

03069

As of March 24, the pharmaceutical sector has risen against the trend, with several companies such as KEYMED BIO-B and INSILICO showing significant gains. The industry is overall driven by dual engines of CXO pharmaceutical outsourcing services and ADC antibody-drug conjugates, with leading companies maintaining high performance and a stable policy environment. WuXi AppTec expects double-digit revenue growth by 2025, with ADC innovative drugs gradually entering the harvest period, increasing industry concentration, and deepening the competitive moat of leading enterprises. Investors may focus on ETFs in the biotechnology and innovative drug sectors

腾讯新闻 - 财经

ICBCCS SSE STAR Biology and Medicine ETF

China Merchants CSI Biotechnology Theme ETF

CAM HSBIOTECH

Tianhong CNI BIOMEDICINE ETF

E Fund CSI 300 Health Care ETF

Bosera Hang Seng SCHK Innovative Drug Select ETF

E Fund CSI Biotechnology Theme ETF

VanEck Biotech ETF

ALPS Medical Breakthrough

Penghua CSI HK Connect Health Care Composite ETF

Founder Fubon CSI Medicine and Medical Device Innovation ETF

ChinaAMC SSE STAR Biology and Medicine ETF

KEYMED BIO-B

iShares Biotechnology ETF

ChinaAMC CSI Biotechnology Theme ETF

Bosera Hang Seng Health Care ETF(QDII)

Proshares Ultra Nasdaq Biotech

China Southern CNI HK Connect Innovative Drug ETF

First Trust NYSE Arca Biotech Index Fd

E Fund Hang Seng SCHK Innovative Drug ETF

WuXi AppTec

EFUND BIOPHAR ETF

Ping An CSI Medicine and Medical Device Innovation ETF

GX CN BIOTECH

Yinhua CSI Innovative Drugs Industry ETF

ChinaAMC Hang Seng Biotechnology Technology ETF(QDII)

Hwabao WP Hang Seng SCHK Innovative Drug Select ETF

Huatai-PB Hang Seng Innovative Drugs Industry ETF(QDII)

INSILICO

Fullgoal Hang Seng SCHK Innovative Drug & Healthcare ETF

Direxion S&P Biotech Bull 3X

Minsheng Royal CSI Biotechnology Theme ETF

WUXI APPTEC

CAM HSBIOTECH-R

Hwabao WP CSI Pharmaceuticals ETF

WUXI BIO

China Southern Hang Seng Biotech ETF(QDII)

China Universal CNI HK Connect Innovative Drugs Industry ETF

Harvest CSI Hong Kong Connect Innovative Drugs ETF

Ark Genomic Revolution ETF

WuXi Biologics

Invesco Nasdaq Biotechnology ETF

Invesco Biotechnology & Genome ETF

ChinaAMC SSE Health Care ETF Initiating Fund

Penghua SSE STAR Biology and Medicine ETF

Huaan Hang Seng Biotech ETF

CCB Principal CSI Innovative Drugs Industry ETF

GF CSI HK Innovative Drugs Industry ETF(QDII)

SPDR S&P Biotech

Guotai CSI Bio-medicine ETF

iShares US Pharma

The performance of leading pharmaceutical companies continues to validate high prosperity, highlighting the undervalued allocation value of the pharmaceutical and biotechnology sector