Against the backdrop of market narrative logic gradually moving closer to hard technology, leading public fundraisers have begun to expand the layout of innovative drug circuits. The Securities Times reporter noticed that recently, the four leading public funds under E-Fangda Fund, Wells Fargo Fund, Huaxia Fund, and Huitianfu Fund have gone south to intensively license Hong Kong-owned innovative pharmaceutical companies, compounding the implementation of a new version of the National Essential Medicines Catalogue to release policy dividends, and investment opportunities on the pharmaceutical circuit have increased markedly. A number of pharmaceutical fund managers said that the narrative logic of the fund group technology in the first half of the year was based on the boom in the industry, technological breakthroughs, and the logic of going overseas, while the domestic innovative pharmaceutical industry also entered a cycle of technological explosion and overseas commercialization. The sector's valuation was at a historically low level, and it is expected to accept outflows of capital from the technology circuit. It is worth mentioning that in a context where economic narratives dominate current fund performance, many pharmaceutical fund managers believe that innovative drugs and technology have similar narrative logic and are expected to attract capital to the innovative drug sector in the valuation depression.

Against the backdrop of market narrative logic gradually moving closer to hard technology, leading public fundraisers have begun to expand the layout of innovative drug circuits. The Securities Times reporter noticed that recently, the four leading public funds under E-Fangda Fund, Wells Fargo Fund, Huaxia Fund, and Huitianfu Fund have gone south to intensively license Hong Kong-owned innovative pharmaceutical companies, compounding the implementation of a new version of the National Essential Medicines Catalogue to release policy dividends, and investment opportunities on the pharmaceutical circuit have increased markedly. A number of pharmaceutical fund managers said that the narrative logic of the fund group technology in the first half of the year was based on the boom in the industry, technological breakthroughs, and the logic of going overseas, while the domestic innovative pharmaceutical industry also entered a cycle of technological explosion and overseas commercialization. The sector's valuation was at a historically low level, and it is expected to accept outflows of capital from the technology circuit. It is worth mentioning that in a context where economic narratives dominate current fund performance, many pharmaceutical fund managers believe that innovative drugs and technology have similar narrative logic and are expected to attract capital to the innovative drug sector in the valuation depression.