中信建投指出，随着美联储自2020年3月以来首次宣布降息，全球流动性边际改善，医药行业投融资景气度有望快速恢复，具备估值优势。随着降息周期开启，医药投融资有望逐步恢复，研发需求的提升将有利于具备全球竞争力的CXO龙头及细分领域龙头。Concept stocks in the CRO industry continued to rise in the morning session. As of the time of publication, Joinn Laboratories (06127) rose by 16.04%, to 13.02 Hong Kong dollars; Pharmaron (03759) rose by 12.9%, to 22.15 Hong Kong dollars; Tigermed (03347) rose by 5.09%, to 55.7 Hong Kong dollars; WuXi AppTec (02359) rose by 2.61%, to 68.85 Hong Kong dollars; Wuxi Bio (02269) rose by 2.1%, to 21.9 Hong Kong dollars.
According to the Zhitong Finance and Economics APP, concept stocks in the CRO industry continued to rise in the morning session. As of the time of publication, Joinn Laboratories (06127) rose by 16.04%, to 13.02 Hong Kong dollars; Pharmaron (03759) rose by 12.9%, to 22.15 Hong Kong dollars; Tigermed (03347) rose by 5.09%, to 55.7 Hong Kong dollars; WuXi AppTec (02359) rose by 2.61%, to 68.85 Hong Kong dollars; Wuxi Bio (02269) rose by 2.1%, to 21.9 Hong Kong dollars.
On the news front, recent reports suggest that Wuxi AppTec may sell WuXi Advanced Therapies and other European and American laboratories. Zhongtai International stated that the market believes the sale may ease doubts. The company is evaluating the situation at the base. The high costs at European and American bases could lead to increased profitability from the sale. If there is a resurgence in demand for innovative drugs in China, Wuxi China's business will benefit. The U.S. bill is not expected to be passed this year, but the specifics are pending, so we will continue to monitor developments.
China Securities Co., Ltd. points out that since the Federal Reserve announced its first rate cut since March 2020, global liquidity has marginally improved. The investment and financing vitality of the pharmaceutical industry is expected to recover rapidly, with valuation advantages. As the rate-cut cycle begins, pharmaceutical investment and financing are expected to gradually recover. The increase in research and development demand will benefit leading global competitors in the CXO industry and segmented field leaders.
