Hong Kong pharmaceutical outsourcing concept stocks surged collectively, with Pharmaron rising over 9%, JOINN climbing over 8%, WuXi Biologics and Asymchem gaining over 4%, and Tigermed advancing over 2%.

On September 12, the National Medical Products Administration issued an announcement stating that "for qualifying innovative drug clinical trial applications, review and approval will be completed within 30 working days after acceptance," effective from the date of publication. The expedited channel applies to Class 1 innovative drug clinical trials for traditional Chinese medicine, chemical drugs, and biological products that meet any of three specified criteria. Since the implementation of the 60-day tacit approval system for drug clinical trials in 2019, the average review and approval time for drug clinical trials in China has been reduced to approximately 50 working days. This announcement establishes an additional 30-day channel based on the existing framework, further accelerating clinical trial applications with greater speed requirements.

Additionally, US administrative draft proposals have renewed market concerns. Huafu Securities noted that since the end of 2023, the Biosecurity Act has undergone 10 revisions. Judging from stock price reactions, representative CXO companies have gradually become "desensitized" to developments in the Biosecurity Act, with current stock prices having "recovered lost ground" and reached new highs. The firm pointed out that the wave of business development deals involving Chinese innovative drugs this year essentially reflects the concentrated advantages of China's innovative drug industry in terms of talent resources, R&D efficiency, and research costs. Similar to the impact of the Biosecurity Act on the domestic CXO industry, BD-related policies from a Trump administration would not substantially affect China's innovative drug industry, which possesses genuine global competitiveness.