Hong Kong (HSI) Pharma Industry Analysis

Industry Valuation and Performance

Has the Hong Kong Pharma Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 24 Jun 2026	HK$610.5b	HK$521.1b	HK$29.2b	13.3x	20.9x	1.2x
Fri, 22 May 2026	HK$687.2b	HK$520.1b	HK$29.5b	14.4x	23.3x	1.3x
Sun, 19 Apr 2026	HK$796.1b	HK$517.5b	HK$30.2b	15.3x	26.3x	1.5x
Tue, 17 Mar 2026	HK$734.3b	HK$498.8b	HK$30.4b	12.4x	24.1x	1.5x
Thu, 12 Feb 2026	HK$842.5b	HK$497.2b	HK$30.5b	13.4x	27.7x	1.7x
Sat, 10 Jan 2026	HK$849.3b	HK$491.0b	HK$30.1b	13.4x	28.2x	1.7x
Mon, 08 Dec 2025	HK$829.5b	HK$484.6b	HK$29.7b	13.7x	27.9x	1.7x
Wed, 05 Nov 2025	HK$785.9b	HK$480.2b	HK$30.1b	13.9x	26.1x	1.6x
Fri, 03 Oct 2025	HK$811.2b	HK$479.6b	HK$30.6b	13.4x	26.5x	1.7x
Sun, 31 Aug 2025	HK$793.1b	HK$480.3b	HK$30.8b	13.5x	25.7x	1.7x
Tue, 29 Jul 2025	HK$752.4b	HK$475.7b	HK$29.1b	12.1x	25.9x	1.6x
Thu, 26 Jun 2025	HK$640.2b	HK$477.2b	HK$28.9b	12x	22.2x	1.3x
Sat, 24 May 2025	HK$558.7b	HK$477.6b	HK$29.2b	10.7x	19.2x	1.2x
Mon, 21 Apr 2025	HK$473.0b	HK$466.5b	HK$28.6b	10.2x	16.5x	1x
Wed, 19 Mar 2025	HK$474.8b	HK$466.2b	HK$32.3b	9x	14.7x	1x
Fri, 14 Feb 2025	HK$415.4b	HK$461.6b	HK$31.8b	8.4x	13x	0.9x
Sun, 12 Jan 2025	HK$400.2b	HK$459.2b	HK$31.7b	8.1x	12.6x	0.9x
Tue, 10 Dec 2024	HK$452.3b	HK$462.5b	HK$31.9b	8.5x	14.2x	1x
Thu, 07 Nov 2024	HK$444.5b	HK$467.8b	HK$32.5b	8.3x	13.7x	1x
Sat, 05 Oct 2024	HK$532.1b	HK$475.1b	HK$33.0b	8.3x	16.1x	1.1x
Mon, 02 Sep 2024	HK$443.8b	HK$474.5b	HK$32.9b	7.8x	13.5x	0.9x
Wed, 31 Jul 2024	HK$410.9b	HK$459.0b	HK$32.6b	7.4x	12.6x	0.9x
Fri, 28 Jun 2024	HK$441.0b	HK$461.8b	HK$33.8b	8.3x	13.1x	1x
Sun, 26 May 2024	HK$459.0b	HK$463.0b	HK$33.7b	8.5x	13.6x	1x
Tue, 23 Apr 2024	HK$423.1b	HK$464.6b	HK$33.8b	7.5x	12.5x	0.9x
Thu, 21 Mar 2024	HK$463.2b	HK$470.3b	HK$33.3b	7.7x	13.9x	1x
Sat, 17 Feb 2024	HK$433.2b	HK$472.8b	HK$33.8b	7x	12.8x	0.9x
Mon, 15 Jan 2024	HK$456.0b	HK$472.1b	HK$33.7b	7.6x	13.5x	1x
Wed, 13 Dec 2023	HK$478.4b	HK$471.7b	HK$33.7b	7.5x	14.2x	1x
Fri, 10 Nov 2023	HK$491.1b	HK$469.3b	HK$31.9b	7x	15.4x	1x
Sun, 08 Oct 2023	HK$424.5b	HK$469.6b	HK$31.6b	6.7x	13.4x	0.9x
Tue, 05 Sep 2023	HK$434.9b	HK$470.4b	HK$31.7b	6.9x	13.7x	0.9x
Thu, 03 Aug 2023	HK$467.5b	HK$446.3b	HK$27.8b	8.8x	16.8x	1x
Sat, 01 Jul 2023	HK$494.0b	HK$445.0b	HK$27.7b	9.7x	17.8x	1.1x

Current Industry PE

Investors are optimistic on the Hong Kong Pharmaceuticals industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 20.9x which is higher than its 3-year average PE of 18.3x.

The industry is trading close to its 3-year average PS ratio of 1.2x.

Past Earnings Growth

The earnings for companies in the Pharmaceuticals industry have remained mostly flat over the last three years.
Meanwhile revenues for these companies have grown 5.4% per year.
This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the Hong Kong Healthcare industry?


HK Market	-4.62%
Healthcare	-1.46%
Pharma	-2.43%
Pharma	-2.43%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
2637 Fujian Haixi Pharmaceuticals	HK$180.00	5.0% +HK$669.0m	n/a	PE69.4x
6872 TenNor Therapeutics (Suzhou)	HK$263.60	2.6% +HK$341.6m	n/a	PB76.9x
2630 Vigonvita Life Sciences	HK$61.00	3.1% +HK$310.1m	n/a	PS86.9x
1643 Modern Chinese Medicine Group	HK$1.69	29.0% +HK$273.6m	369.4%	PS7.3x
2005 SSY Group	HK$2.21	2.3% +HK$144.6m	-20.2%	PE13.6x

Company

Last Price

Valuation

2637 Fujian Haixi Pharmaceuticals

HK$180.00

5.0%
+HK$669.0m

n/a

PE69.4x

6872 TenNor Therapeutics (Suzhou)

HK$263.60

2.6%
+HK$341.6m

n/a

PB76.9x

2630 Vigonvita Life Sciences

HK$61.00

3.1%
+HK$310.1m

n/a

PS86.9x

1643 Modern Chinese Medicine Group

HK$1.69

29.0%
+HK$273.6m

369.4%

PS7.3x

2005 SSY Group

HK$2.21

2.3%
+HK$144.6m

-20.2%

PE13.6x

Sino Biopharmaceutical Limited Announces Acceptance of New Drug Application for Tecotabart Vedotin CLDN18.2 ADC

Sino Biopharmaceutical Limited announced that a new drug application for tecotabart vedotin “CLDN18.2 ADC” (research and development code: LM-302), an innovative drug independently developed by LaNova Medicines Limited, a wholly-owned subsidiary of the Group, has been submitted to and accepted by the Center for Drug Evaluation (CDE) of China’s National Medical Products Administration, for the treatment of CLDN18.2-positive, locally advanced or metastatic gastric or gastroesophageal junction adenocarcinoma (GC/GEJ) in patients who have received at least two prior lines of systemic therapy. On 22 May, this indication has been included in the priority review and approval procedures by the CDE. LM-302 is a CLDN18.2-targeting antibody-drug conjugate (ADC), which consists of a recombinant humanised monoclonal antibody conjugated to the small-molecule toxin MMAE. Beyond its precise targeting of CLDN18.2-positive tumor cells, LM-302 leverages the “bystander effect” of MMAE to eradicate adjacent tumor cells with low or heterogeneous target expression. Furthermore, LM-302 can induce immunogenic cell death (ICD), and it produces a synergistic anti-tumour effect when used in combination with a PD-1 monoclonal antibody, thereby providing an important basis of mechanism for the combination treatment featuring “ADC + immunotherapy”. The acceptance of this marketing application for LM-302 is supported by positive outcomes from a pivotal Phase III clinical trial evaluating LM-302 as monotherapy in patients with CLDN18.2-positive locally advanced or metastatic GC/GEJ who have received at least two prior lines of systemic therapy. The trial has completed its interim analysis, achieving both endpoints. Detailed results are scheduled for formal disclosure at a major international academic conference in early 2027. Gastric cancer ranks among the most prevalent and lethal malignancies worldwide. According to the 2022 global cancer burden statistics, there were approximately 970,000 new cases of gastric cancer annually worldwide, with China accounting for more than one-third of them. For patients with advanced gastric cancer, treatment options for prolonging survival are extremely limited, particularly when it comes to patients who have failed previous treatments and generally have a poor prognosis. The current median overall survival (OS) is even less than 10 months, thus necessitating treatment options with better efficacy. CLDN18.2, as the second clinically validated “druggable” target in the gastric cancer field after HER2, exhibits moderate-to-high expression in 31%–86% of GC/GEJ cases. In addition to the current marketing application for the indication of CLDN18.2-positive locally advanced or metastatic GC/GEJ who have received at least two prior lines of systemic therapy, LM-302 is also being evaluated in a pivotal Phase III clinical trial in combination with a PD-1 monoclonal antibody as a first-line treatment of CLDN18.2-positive locally advanced or metastatic GC/GEJ. Both indications have been granted Breakthrough Therapy Designations (BTD) by the CDE. Additionally, LM-302 has obtained three Orphan Drug Designations (ODD) from the U.S. Food and Drug Administration (FDA), covering three major tumour types with highly unmet clinical needs, namely gastric cancer, pancreatic cancer and biliary tract cancer.

Hong Kong (HSI) Pharma Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

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Sino Biopharmaceutical Limited Announces Acceptance of New Drug Application for Tecotabart Vedotin CLDN18.2 ADC

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Upcoming dividend of HK$0.15 per share

Tennor Therapeutics (Suzhou) Limited Appoints Song Gaoguang as Member of Remuneration and Appraisal Committee, Effective June 8, 2026

Upcoming dividend of HK$0.14 per share

Consun Pharmaceutical Group Invests RMB 191.4 Million for 30% Stake in Shanghai Huamao

Grand Pharmaceutical Group Limited Declares Final Dividend for the Year Ended 31 December 2025

Investor sentiment deteriorates as stock falls 15%

Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co.,Ltd. Announces Board Changes, Effective 28 May 2026

New minor risk - Market cap size

Modern Chinese Medicine Group Co., Ltd., Annual General Meeting, May 29, 2026

Full year 2025 earnings released: CN¥2.33 loss per share (vs CN¥1.45 loss in FY 2024)

Full year 2025 earnings: EPS misses analyst expectations