US-Listed China Biotech Shares Hit By Broad China Cybersecurity Review
Over-Valuation Correction As Well?
First DIDI, then other recently US-listed tech companies and now biotech companies are seeing share drops as China widens its cybersecurity reviews. But investors are also seeing other corrections from recent highs.
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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.