Chen Zhu, a researcher at CITIC Securities: There is great potential for Chinese innovative drugs to go global, and the pharmaceutical industry is expected to continue its growth momentum in the second half of the year.

Chen Zhu, Chief Analyst of CITIC Securities' Healthcare Industry, said that in the first half of 2025, the pharmaceutical sector has shown the best market performance in the past three years. Thanks to the improving external environment for pharmaceuticals and the accelerated entry of domestic innovative drugs into the harvest period, it is expected that the performance and valuation recovery trend of the healthcare industry will be more certain in the second half of 2025. Many Chinese innovative drug companies have demonstrated strong potential for international expansion and are continuously increasing their asset value by competing in the global innovative drug market through authorized internationalization and other models.