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<Research>CLSA Adds Basket Allocation on CSPC PHARMA/ HANSOH PHARMA/ Hengrui as CN Policy Environment Now More Supportive for Pharmas
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CLSA opined in its research report that comments from US President Donald Trump regarding drug pricing had reignited market volatility. In CLSA's opinion, the multi-payer structure of the US healthcare system limits the government's power to set prices, and any meaningful reform would impact a wide range of stakeholders, making actual implementation highly uncertain. While concerns are mounting over peak sales of overseas products, the US remains an incremental market for Chinese companies. In addition, China's policy environment is becoming more supportive, which is especially manifested in a more relaxed approach to drug pricing. CLSA has increased its basket allocation on leading pharma companies, including CSPC PHARMA (01093.HK), HANSOH PHARMA (03692.HK), and Hengrui (600276.SH). With the easing of US-China trade tensions, it has also raised its allocation on WUXI APPTEC (02359.HK). AAStocks Financial News |
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