Some Winners Emerge Despite China’s Reimbursement Price-Cutting Scheme
Higher Volumes Benefit Selected PD-1s
Inclusion into China's national reimbursement drug list alone does not guarantee revenue growth but in some cases higher volumes seem to be offsetting the requisite big price cuts, reveal second-quarter results from some leading publicly-traded biotechs in the country.
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Already priced domestically at a deep discount to counterpart PD-1s in the US, Beigene's tislelizumab could potentially get the first global approval for a China-originated drug in this class, as the immuno-oncology sector as a whole continues to come under pressure in China.
The latest approval for AnNiKe (penpulimab) from Akeso/Sino Biopharm adds further competition to a crowded space where six PD-1 immuno-oncology drugs elbow each other.
China’s top securities regulator is slowing down the review of initial public offering applications across the board to “stabilize” the stock market. But event prior to the move, Chinese biotechs were operating already under a continuously tightening IPO environment.