Business As Usual For Hong Kong Pharma Companies
This article was originally published in PharmAsia News
The ongoing protests in Hong Kong calling for true universal suffrage have occupied both international headlines and the city’s financial district, but their effect on pharma business has so far been limited.
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Suzhou-based Innovent Bio becomes the fourth biotech from mainland China to go public in Hong Kong, and its strong first-day performance may have given the seemingly spooked market so far for such companies a shot of confidence.
A rapidly reforming policy and regulatory environment and a growing culture of innovation are encouraging capital and talent to pour into China, making it a question of when, rather than if, the payoffs will come for both consumers and investors.
The first IPOs to get away under Hong Kong's new relaxed rules for the listing of pre-revenue bioventures have seen mixed performances so far, and observers also have varying views on the likely success of the initiative, although the territory's stock exchange remains bullish as more companies line up to float.