In today’s briefing:
- China Healthcare Weekly (Oct.12) – 11th National VBP, Future BD Trend, Hengrui Is Facing Headwinds
China Healthcare Weekly (Oct.12) – 11th National VBP, Future BD Trend, Hengrui Is Facing Headwinds
- The 11th national VBP has optimized the selection of price difference control “anchor points”, which is an important signal, implying that future VBP will follow the general direction of “anti-involution”.
- As long as there’s no significant difference in pipeline data, buyers are more concerned about the speed of R&D progress and may not necessarily dwell on potential advantages and disadvantages.
- Hengrui’s innovative drug revenue was slightly lower-than-expected. The Company’s 2025 employee stock ownership plan has lowered the compound growth target for innovative drugs from 30% to 25%.
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