Asia Movers To Watch: Astellas, Kyowa Hakko, CMIC, CFDA
February brings new executives at Japan's Astellas, Kyowa Hakko Bio and CMIC. Meanwhile, China FDA deputy commissioner has departed to become the head of an influential academic organization.
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The market slump at the beginning of February affected virtually all of the stocks of the top 50 pharmaceutical companies. But unpredicted clinical successes or surprisingly good financials still kept a few companies above water.
The hard going could get even tougher as a funding crunch continues for China’s biotech sector, which is being hit by a paradox that could see more pain ahead, leading investors to take the pulse of the sector as the Year of the Rabbit starts.
From orphan to cancer drugs, more products have had their prices cut in the latest round of reimbursement negotiations in China. Although the 60% average across 100 medicines was considered mild given it didn’t go beyond the previous year, it was still chilling and is prompting more firms, both multinational and domestic, to walk away from the process.