Innovative drugs receive multiple positive signals, with Jinling Pharmaceutical, Baihua Pharmaceutical, and other stocks hitting the daily limit.

Ask AI · Why is the export of homegrown innovative drugs accelerating from following to leading?

On April 8, the innovative drug concept was actively traded repeatedly, Jinling Pharmaceutical (000919.SZ) logged two consecutive daily limit-ups, Xintian Pharmaceutical (002873.SZ) briefly touched two consecutive daily limit-ups, Baihua Pharmaceutical (600721.SH) and Wanze Co., Ltd. (000534.SZ) hit the daily limit, Celgen Bio (688163.SH), Junshi Biosciences (01877.HK), InnoThink (688710.SH), and Sunshine Pharmaceutical (688621.SH) also rose.

On the news front, a global top-tier academic conference is set to be held soon, and market expectations for blockbuster data are heating up. The 2026 annual meeting of the American Association for Cancer Research (AACR) will be held in San Diego, United States, from April 17 to 22, 2026. In addition, “overseas expansion” transactions have continued to surge, and the global value of China’s innovative drugs is accelerating into realization. At the same time, policy tailwinds continue to be released: in the 2026 government work report, for the first time, biopharmaceuticals are listed as an emerging pillar industry, further raising the industry’s strategic positioning; the first edition of the innovative-drug catalog under commercial insurance has officially been rolled out, and the multi-tier payment system of “new medical insurance + commercial insurance” is speeding up its establishment, with the payment environment for innovative drugs continuing to improve.

Caitong Securities points out that the innovative-drug sector is now entering a favorable window for bottom-rebound allocation: on the one hand, the prior adjustment has been充分, the proportion of broad-based holdings is low, and valuations have fallen to a relatively reasonable yet comparatively low level; on the other hand, the pullback in AI technology stocks has brought a switch of growth capital, and this is combined with the dense realization of Q1 2026 results for leading companies and the normalization of BD authorizations, leaving the fundamentals with a clearly improving trend. With the AACR 2026 theme announced and key data readouts from ASCO 2026 imminent, the logic for China’s innovative-drug overseas expansion is accelerating from “follow” to “lead.”