CRO concept stocks increased their gains in the afternoon. As of press release, Tiger Pharmaceuticals (03347) rose 8.39% to HK$33.6; Kanglong Chemical (03759) rose 7.16% to HK$9.43; Pharmaceutical Biotech (02269) rose 6.75% to HK$13.6; and Pharmaceuticals (02359) rose 4.74% to HK$35.35.
The Zhitong Finance App learned that CRO concept stocks increased in the afternoon. As of press release, Tiger Pharmaceuticals (03347) rose 8.39% to HK$33.6; Kanglong Chemical (03759) rose 7.16% to HK$9.43; Pharmaceutical Biotech (02269) rose 6.75% to HK$13.6; Pharmaceuticals (02359) rose 4.74% to HK$35.35.
According to the news, Tan Tianwei, an Academician of the Chinese Academy of Engineering, said at the 2024 Zhongguancun Forum annual meeting that biomantry is a new track and new business format where new quality productivity is very important. Currently, under the leadership of the Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, and other national ministries and departments are jointly developing a national biotechnology and biomaneling action plan, which is expected to be introduced in the near future.
Xiangcai Securities pointed out that it is expected that domestic and foreign pharmaceutical R&D spending will continue to grow and that the penetration rate of pharmaceutical R&D outsourcing will continue to increase, which will be an important support for the development of the CXO industry. Although CXO's performance is currently being pressured by the decline in domestic and foreign pharmaceutical investment and financing, given the gradual weakening of the Fed's interest rate hike expectations and the clearing of the global biotech sector valuation bubble in the past two years, the cost performance ratio of the global biotech industry has become prominent, and the innovative drug investment and financing environment is expected to gradually pick up, and I am optimistic about the short-term improvement of CXO over the long term.