Hong Kong Stock Market Movement | Pharmaceutical stocks perform strongly as innovative drugs gradually approach a profit turning point. The AACR Annual Meeting 2026 is coming up.

LootboxPhobia · 2026-04-01T10:00:18+00:00

Recently, pharmaceutical stocks have performed strongly, with many companies' stock prices rising significantly. Data from the National Medical Products Administration shows that this year, the external licensing transaction volume for innovative drugs has exceeded $60 billion, approaching half of the annual target. Several pharmaceutical companies will participate in the 2026 AACR Annual Meeting, showcasing a large number of innovative drug R&D achievements. Industrial Securities believes that with progress in overseas clinical trials, the valuation of innovative drugs is expected to continue rising.

LootboxPhobia

2026-04-01 10:00:18

Abstract generation in progress

Zhitong Finance APP learned that pharmaceutical stocks have been performing strongly. As of the time of this report, Lepu Biotech-B (02157) was up 15.17%, trading at HK$6.15; Rongchang Biotech (09995) was up 13.88%, trading at HK$109.1; Connair-B (02162) was up 10.96%, trading at HK$67.35; Sihuan Pharmaceutical (01530) was up 9.98%, trading at HK$24.9; Innovent Biologics (09969) was up 9.29%, trading at HK$14.82.

On the news front, recently the pharmaceutical industry has seen multiple catalysts. Data released by the National Medical Products Administration shows that in the first three months of this year, the total value of China’s innovative drug out-licensing (BD) transactions exceeded $60 billion, already approaching half of the $135.7 billion total for the full year of 2025. In addition, the 2026 AACR Annual Meeting is coming up. According to statistics compiled by various institutions, this year 104 Chinese pharmaceutical companies will appear at AACR, bringing more than 250 innovative drugs and related research results, covering multiple popular targets currently. What’s worth noting is that recent annual performance announcements from multiple pharmaceutical companies indicate that innovative drugs have entered a profit-making cycle, and leading innovative drug companies such as BeiGene and Innovent Biologics have achieved profitability first.

CICC Securities believes that over the past two years, the number and transaction value of China’s innovative drug out-licensing deals have continued to set new highs. And the landing of BD (business development) transactions is the first step for going overseas; with subsequent overseas Phase 3 clinical trials getting underway, the certainty of overseas listings is increasing, and valuations are expected to keep rising (based on potential product sales peak levels and improvements in success rates). Based on this, going forward, investors may focus on the future progress of products that have already been BDd. On one hand, they have stronger certainty compared with products that have not been BDd; on the other hand, ongoing developments across various fronts will continue to provide catalysts, creating upside potential for valuations.

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