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 (Feb16)-Innovative Drug Is "Innocent" In Geopolitics, BeiGene's BTK, Jacobio

China Healthcare Weekly (Feb.23)- TCM Ushers in a Harvest Period, Biotech Bottom-Line, Kelun-Biotech

China Healthcare Weekly (Mar.1) - Prioritize Big Pharma, Real Ownership of Pricing Power, Hengrui

Shanghai Medicilon (688202.CH)- Concerns on Long-Term Outlook Despite Amazing Short Term Performance

China Traditional Chinese Medicine (570.HK) - Will This Privatization Rumor Come True ?

China Healthcare Weekly (Feb.10) - Assisted Reproduction into NRDL, Cell Therapy, Medicilon, IRay,

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Escalation of Israel-Hamas War - Here's How Investors Should Position Themselves in Dramatic Changes

Equity Bottom-Up

<ul>
<li>NHSA’s new regulation on <em>establishing a mechanism for pricing newly listed chemical drugs and encouraging high-quality innovation</em> attracted widespread attention. However, it’s difficult to interpret this as an optimistic rule.</li>
<li>Although we see increasing interest in products from Chinese pharmaceutical companies, it would be difficult for Chinese biotech to be acquired on a large scale in the foreseeable future.</li>
<li>Based on 2023 results, Medicilon has entered a vicious circle. Multiple sell-offs made us question the moral standards of management. The risk is high for this type of small/lower-tier CXO.</li>
</ul>


NHSA’s new regulation on establishing a mechanism for pricing newly listed chemical drugs and encouraging high-quality innovation attracted widespread attention. However, it’s difficult to interpret this as an optimistic rule.
Although we see increasing interest in products from Chinese pharmaceutical companies, it would be difficult for Chinese biotech to be acquired on a large scale in the foreseeable future.
Based on 2023 results, Medicilon has entered a vicious circle. Multiple sell-offs made us question the moral standards of management. The risk is high for this type of small/lower-tier CXO.


Sichuan Biokin Pharmaceutical (688506 CH)

China Healthcare Weekly (Feb.12) - New Pricing Mechanism for Drugs, China Biotech M&A, Medicilon