CITIC Securities: The innovative drug industry is entering a period of intensive data-driven catalysts; recommended to focus on key opportunities.

iDaily AI Express, on April 3, a research report from China CICC Securities stated that since 2026, the transaction value of China’s innovative drug BD has grown beyond expectations, and the industry’s global competitiveness has been further enhanced. In the domestic market, volume has ramped up quickly: according to 2025 annual reports, under the drive of new products, leading innovative drug companies’ innovative drug revenue has grown rapidly, and biopharma companies have gradually entered a break-even and profitability inflection point. In the near term, multiple international academic conferences are coming up, and many innovative drug pipelines have entered a period of concentrated data catalysts. The global value of the innovative drug industry is becoming increasingly apparent; next, it will enter a phase of concentrated data catalysts. It is recommended to pay attention to: ① leading innovative drug companies are expected to see earnings release; ② core pipelines are about to receive major data readouts as catalysts; ③ internationalization of pipeline assets with global potential is expected to accelerate realization. In summary, we maintain a “Outperform the market” rating for the innovative drug sector.

Daily Economic News