Citigroup: China Pharmaceuticals and Biotech ESMO data has been verified again, Pharma Preferred Pharmaceuticals Group (01093) and Hengrui Pharmaceuticals (01276)

The Zhitong Finance App learned that Citibank released a research report saying that ESMO 2026 marks another important step in Chinese pharmaceuticals and biotechnology. China's original research assets have handed over persuasive data in a number of key global studies, and demonstrated strong China-to-global consistency, high-focus clinical results, and innovation beyond existing targets; this helps reduce industry risks, enhance confidence in the sustainability of global regulatory paths, overseas commercialization, and cross-border cooperation, and may support structural revaluation of companies with differentiated and internationally competitive pipelines. The pharmaceutical sector preferred Shiyao Group (01093) and Hengrui Pharmaceuticals (01276), while the biopharmaceuticals sector preferred Cinda Biotech (01801) and Columbotai Biotech (06990). They are also optimistic about Hehuang Pharmaceutical (00013).

The bank pointed out that a number of high-profile readings were better than investors' expectations, including OptiTrop-Lung06's median progression-free survival period of 15.0 months, and Harmoni-GI1's simultaneous statistically significant progression-free survival and overall survival benefits; the industry is also increasingly receiving positive results from randomized and registered studies rather than relying mainly on early single-arm data. Improving the quality and maturity of clinical evidence should help increase asset visibility and shift investors' focus to regulatory enforcement, listing preparation and commercialization. The bank continued that it is still optimistic about companies with globally verified assets, sufficient differentiated pipelines, and clear catalysts.