In today’s briefing:
- China Healthcare Weekly (Apr.20)- Giant Biogene Announced a HK$2.3bn Placement, China’s VBP Outlook
China Healthcare Weekly (Apr.20)- Giant Biogene Announced a HK$2.3bn Placement, China’s VBP Outlook
- With policy optimization and market adjustment, the VBP will pay more attention to the balance between quality, supply, and price. So, we think malignant price competition would be avoided.
- By 2025, the VBP of biosimilar drugs will gradually cover the major categories such as monoclonal antibody, growth hormone and blood products, with an average price reduction of 30%-50%
- Giant Biogene announced a HK$2.294 billion placement with Placing Price of HK$66.65/Share. Investment logic/fundamentals will change after Class III medical device is approved.Based on 2025-2027 forecast, growth will remain strong.
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