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.
The STAR Market of the Shanghai Stock Exchange has called a halt to the potentially third-largest biotech IPO this year in an apparent deterrent to the in-licensing model.