The Zhitong Finance App learned that the innovative drug concept had the highest increase. As of press release, Yiming Angko-B (01541) rose 60.42% to HK$6.16; Kangfang Biotech (09926) rose 12.17% to HK$63.15; Nuocheng Jianhua (09969) rose 6.19% to HK$5.83; and Conoa-B (02162) rose 5.56% to HK$39.85.

According to the news, Li Li, director of the State Drug Administration, said at a press conference today that the efficiency of review and approval will be improved. Accelerate the review and approval of clinically needed products, include eligible products in priority review and approval procedures, shorten the time frame for technical review, registration verification, registration inspection, etc., and speed up the pace of approval. Shorten the implied licensing period for clinical trials, launch pilot projects in Beijing, Shanghai and other places, and shorten the clinical trial review and approval time limit for innovative drugs from 60 working days to 30 working days.

Fangzheng Securities pointed out that in the first half of the year, many Biotech companies turned losses into profits, and growth in BD and product sales was the key. The bank believes that the revenue growth of innovative drugs in the first half of 2024 had a positive impact on the performance of pharmaceutical companies, helping to dilute costs and improve profitability. This trend is expected to continue in the future as the innovative drug market is further developed and the company's operational efficiency increases.