CRO concept stocks have collectively declined. As of press time, Pharmaron (03759) fell by 3.22% to HKD 8.73; Wuxi AppTec (02359) fell by 3.04% to HKD 30.25; and Tigermed (03347) fell by 2.84% to HKD 29.05.
As of press time, CRO concept stocks have collectively declined. As of press time, Pharmaron (03759) fell by 3.22% to HKD 8.73; Wuxi AppTec (02359) fell by 3.04% to HKD 30.25; and Tigermed (03347) fell by 2.84% to HKD 29.05.
Wanlian Securities pointed out that in recent years, the CXO sector has undergone an adjustment, due to the end of the industry's initial period of high growth and the compression of valuations for global innovative drugs in a rising interest rate environment, which has been transmitted to the R&D outsourcing industry. From the perspective of the innovation cycle, corporate performance releases will digest valuations, while pessimistic expectations at the bottom of the cycle are fully reflected in valuations. The industry's bottom cycle characteristics are obvious, and the overall sector trend only needs to wait for a new round of innovation drug cycles.
Xiangcai Securities pointed out that the medical outsourcing industry is under short-term pressure due to the high base of CDMA for new coronavirus drugs and the decline in investment and financing in the pharmaceutical industry, as personnel and capacity expansion has slowed down. This is conducive to capacity digestion, and industry clearing is conducive to further increasing the market share of leading companies.