bearish
Shanghai Junshi Bioscience (1877 HK/688180 CH): US Approval of Toripalimab Is Still In Doldrums
326 Views06 Feb 2023 19:10
SUMMARY
- Shanghai Junshi Bioscience (688180 CH) did not receive FDA approval for toripalimab in US, as the agency could not conduct on-site inspection of the company’s manufacturing facility for the drug.
- Toripalimab (branded as TUOYI) is showing decelerated revenue growth rate in China. Besides being approved for small patient population, TUOYI has seen reduction in price after being included in NRDL.
- In May 2022, the company launched adalimumab biosimilar in China. It marks a late entry in a highly competitive market. COVID-19 oral drug should not bode well for the company.
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Tina Banerjee
Global Healthcare Analyst
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