HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

China Healthcare Weekly (Apr.27)- Flaws Behind BeiGene's Breakeven, Fosun Increased Stake in Henlius

China Healthcare Weekly (May.4)-HK Stock Is About to Soar, Mindray's Trouble,Views on Akeso's Plunge

China Healthcare Weekly (May11)-Trump's Executive Order, Pharmacy's Risks, BeiGene 25Q1 Result Is Ok

China Healthcare (Apr.13) - Trump's Tariffs on Pharmaceuticals, NSCEB's Report, RemeGen's Pain Point

China Healthcare Weekly (Apr.6) - SASAC to Encourage SOE M&A, WuXi AppTec Disposed XDC Shares Again

Giant Biogene (2367.HK) - The Key to Valuation Expansion and Short-Term Catalyst

Shanghai Henlius Biotech (2696 HK)- LVC Is Betting on Higher Valuation Upside Due to Business Update

Equity Capital Markets

<ul>
<li>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.</li>
<li>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%</li>
<li>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.</li>
</ul>


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.


China Healthcare Weekly (Apr.20)- Giant Biogene Announced a HK$2.3bn Placement, China's VBP Outlook