Beijing Wantai Biological (603392 CH): Struggling to Make a Mark in Murky China HPV Vaccine Market
507 Views27 Mar 2024 18:18
SUMMARY
- Beijing Wantai Biological Phar (603392 CH) announced that its net profit for 2023 declined 71–75% YoY to RMB1.20–1.35B mainly due to the market competition.
- China’s HPV vaccine market is highly competitive. Beijing Wantai has no presence in higher valent HPV vaccine segment, which dominates the domestic market.
- Although the company will be one of the early movers in domestically developed nonavalent HPV vaccines, at least three more players will follow soon, thereby making the space more competitive.
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