China's Ministry of Industry and Information Technology and nine other departments jointly issued the 15th Five-Year Plan for Pharmaceutical Industry Development, signaling strong state support for innovative drugs. The broker expects multiple biopharma firms to achieve endogenous profitability by 2026 and nearly 10 BD drugs to read out global Phase III data, entering an accelerated overseas monetization phase.
China's innovative drug sector is poised for a reversal driven by domestic demand recovery and accelerating overseas validation, with policy tailwinds adding fuel.
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