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According to recent data, as of April 16, 46 innovative pharmaceutical companies have released their annual reports for 2022, of which 34 achieved positive revenue growth.

Shanghai Yizhong Pharmaceutical had the highest YoY growth rate, reaching 5686.75%.

In terms of net profit attributable to shareholders, 36 companies achieved positive growth, of which five had growth rates exceeding 100%.

The main reason for the performance growth of some innovative pharmaceutical companies is that their core innovative drugs have entered the harvest period.

As we enter 2023, the innovative drug market is gradually recovering, with frequent positive policies and accelerated layout of innovative drugs by pharmaceutical companies.

Institutions are also paying attention to the innovative drug layout of listed companies through research. According to incomplete statistics, more than 200 pharmaceutical companies have been surveyed by institutions this year, many of which are in the field of innovative drugs.

Oriental Securities believes that innovative drugs are worth long-term optimism, as the innovative drug industry is still at the bottom and is expected to gradually recover.

On the one hand, the results of medical insurance negotiations meet price reduction expectations, and the cost control impact is slowing down. Innovative drugs are being exchanged for volume, and performance is gradually being realized.

On the other hand, the approval policies continue to encourage innovative drugs, and the speed of approval for innovative drugs is accelerating.