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Biomedical sector showing strong performance, Pharmaron (03759) rose by 14.97%. Institutions believe there is still room for further increase in sector valuation.
Golden Finance News | The biomedical sector is showing strong performance, with Pharmaron (03759) up 14.97%, Remegen (09995) up 13.59%, Tigermed (03347) up 12.58%, Wuxi Bio (02269) up 11.79%, Wuxi Apptec (02359) up 10.56%, Akeso (09926) up 8.92%. In terms of news, Guoyuan International believes that the main reason for the outperformance of the pharmaceutical sector in this round of large gains is due to the deeper decline in the pharmaceutical sector in the previous period (as of September 23, MSCI China Meheco Group Index has fallen 23% year-to-date), sector.
Lyon: wuxi apptec potentially sells CGT business, which constitutes a positive fundamental catalyst.
It is reported that Wuxi Apptec (02359) plans to sell part of its European and American business. According to a report from Lyon, the assets that may be sold include Wuxi Apptec's cell and gene therapy (CGT) (Wuxi Cell&Gene) business. The bank believes that due to the high sensitivity of the CGT business to the U.S. Biotechnology Protection Act and the growth rate in the past few years being lower than expected, selling this business would be a fundamental positive catalyst for Wuxi Apptec. Wuxi Apptec and Tigermed (03347) are the bank's top choices in the Chinese CXO industry.
Hong Kong stock market anomaly | CRO concept stocks lead the gains. The US Biological Safety Act is unlikely to be implemented this year, and medical investment and financing are expected to recover rapidly in the rate-cut cycle.
CRO concept stocks performed well in the morning trading session, as of the time of publication, Wuxi AppTec (02359) rose by 7.32% to HKD 64.55; Tigermed (03347) rose by 7.02% to HKD 51.05; Wuxi Bio (02269) rose by 6.72% to HKD 20; Pharmaron (03759) rose by 6.67% to HKD 16.96.
Trending Industry Today: PHARMARON Leads Losses In CRO Stocks
Trending Industry Today: TIGERMED Leads Gains In CRO Stocks
[Hong Kong Stock Connect] Tigermed (03347) rose by 12.47%, planning to acquire approximately 40% equity of Guanghe Pharmaceuticals for 140 million yuan.
King Fook Financial News | Tigermed (03347) started trading well, as of the time of writing, it rose by 12.47%, reaching HKD 45.1, with a turnover of 21.39 million Hong Kong dollars. It is worth noting that the stock has increased by 68% in the past 6 trading days. In terms of news, the company recently announced that it plans to acquire 40.5650% equity of Guanhe Medical held by Dian Diagnostics and Suzhou Yingkai for a total purchase price of RMB 0.14 billion in cash. After this transaction is completed, the company and its wholly-owned subsidiary Jiaxing Xinge will collectively directly and indirectly hold 72.8169% equity of Guanhe Medical, which will be consolidated into the company.
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