According to the cnstock APP, the CRO concept is generally on the rise, as of the time of publication,$ASYMCHEM (06821.HK)$up 4.95%, at 59.4 Hong Kong dollars;$TIGERMED (03347.HK)$up 5.21%, at 38.35 Hong Kong dollars;$WUXI APPTEC (02359.HK)$up 3.69%, at 53.4 Hong Kong dollars;$PHARMARON (03759.HK)$Rising by 2.86%, closing at HKD 15.84.

On the news front, on November 2nd, the State Medical Insurance Administration introduced that the on-site negotiations for the adjustment of the national medical insurance pharmaceutical catalog in 2024 have successfully concluded. The new version of the medical insurance pharmaceutical catalog after the "expansion" is expected to be released to the public by the end of November, with formal implementation starting on January 1, 2025. Ping An Securities pointed out that the characteristics of the 2024 medical insurance negotiations are reflected in the relatively low pass rate of the preliminary reviews and fewer varieties of negotiations. In addition, the focus of this national negotiation is on "accelerating the clinical application of innovative drugs," highlighting the innovative value of the products.

CICC International stated that in the third quarter, companies such as WuXi AppTec, Pharmaron, and Asymchem Laboratories, which are mainly engaged in overseas CDMO businesses, continue to benefit from the recovery of overseas research and development demand, with rapid growth in new orders. The bank believes that the window of opportunity for the Biological Safety Act to be passed as a standalone law within the year is very limited. Although the Biological Safety Act has been approved by the U.S. House of Representatives, 49% of Democratic lawmakers did not vote in favor, including 36% who voted against. It is expected that the "Biological Safety Act" will face even greater resistance in the Democrat-led Senate. In a lower interest rate environment, global biomedical financing will rebound, driving the recovery of the chief experience officer (CXO) demand.

Editor/ping