Hong Kong Stock Movers: CRO Concept Stocks Continue Climbing; WuXi Apptec Legal Progress Could Boost CXO Companies' Overseas Contract Wins

Stock News08-11

CRO concept stocks continue their upward trend in Hong Kong trading. As of the latest press time, Pharmaron (03759) surged 9.61% to HKD 30.10, while Genscript Bio (01548) rose 8.44% to HKD 26.20. Asymchem (06821) gained 4.83% to HKD 130.30, and WuXi Apptec (02359) advanced 2.22% to HKD 202.40.

The CRO sector has recently been buoyed by multiple positive developments. The U.S. July non-farm payrolls report showed a decline of 23,000 jobs, significantly missing the market expectation of an 80,000 increase. In legal news, WuXi Apptec has achieved a delay in the enforcement of the U.S. Department of Defense's 1260H designation against the company. Several pharmaceutical industry leaders, including WuXi Apptec and BeiGene, have reported strong mid-year revenue growth.

Guoyuan International noted that the probability of a U.S. interest rate hike has decreased, overseas financing conditions have fully recovered, and external demand has improved markedly. The legal progress for WuXi Apptec is favorable for CXO companies seeking new contracts abroad. The consistent outperformance of Chinese innovative drugs going global has fully validated the global competitiveness of China's innovative drug assets. The firm holds a strong bullish outlook on the innovative drug supply chain sector, recommending attention to companies with globally competitive pipelines and substantial business development deals either completed or anticipated, as well as CXO firms demonstrating rapid earnings growth.

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