CSOP Hang Seng Biotech ETF (03174.HK) Falls 2.60% Intraday as InnoCare and Lilly Sign Licensing Deal Worth Up to US$3.25 Billion

NewTimeSpace News: As of 13:53 on September 24, CSOP Hang Seng Biotech ETF (03174.HK) fell 2.60% to a latest price of HK$3.822. The ETF has traded 1.2452 million shares so far today for a turnover of HK$4.78 million at an average price of HK$3.839, with a turnover rate of 0.49%. It is up 1.70% so far this week. Its current net asset value per unit is HK$3.926, and its assets under management stand at HK$1.004 billion.(Note on scope: the net asset value per unit and assets under management are as of September 23, 2026; the week-to-date change is measured against the closing price of HK$3.758 on September 18.)

On the news front, InnoCare Pharma (09969.HK) announced on September 24 that its wholly-owned subsidiary Beijing InnoCare Pharma Tech Co., Ltd. has signed a research collaboration and licence agreement with Eli Lilly and Company to discover and develop up to five innovative target programmes based on its proprietary drug discovery platform. Lilly will pay up to US$100 million in upfront and near-term milestone payments, with potential development and commercialisation milestones totalling about US$3.25 billion, and InnoCare will also be entitled to tiered single-digit percentage royalties on annual net sales of licensed products. InnoCare is one of the constituents of the Hang Seng Biotech Index.

CSOP Hang Seng Biotech ETF (03174.HK) closely tracks the Hang Seng Biotech Index. The index reflects the overall performance of the 30 largest biotech companies listed in Hong Kong and eligible under Southbound Stock Connect, including pre-revenue companies listed through Chapter 18A of the Listing Rules; its constituents cover the "Biotechnology", "Pharmaceuticals", "Medicine Distribution", "Pharma & Biotech Contract Services" and "Medical Devices & Supplies" industry sub-categories under the Hang Seng Industry Classification System, and it is freefloat-adjusted market-capitalisation weighted with a 10% cap on individual constituents.

CSC believes that AI, innovative drugs and industrial metals are all rate-sensitive sectors; if the Federal Reserve embarks on a rate-hiking cycle, both the fundamentals and valuations of the related industries could come under some pressure.

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