$REMEGEN(09995.HK) and $HENGRUI PHARMA(01276.HK) both edged up slightly. In the innovative drug sector, there's a new overseas business development deal that catches the eye every few weeks, and licensing-out has evolved from an event into a business model.
The debate now shifts to valuation methods—should it be based on pipeline NPV, or should a premium be given for "BD options"? It makes sense to give an option premium to platform-type companies like $HENGRUI PHARMA(01276.HK), but doing the same for single-product biotech companies is a bubble. Do you think the market can distinguish between these two?
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