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00460 SIHUAN PHARM
RTNominal up0.870 +0.020 (+2.353%)
Others

25/09/2019 14:26

{I-bank focus}Larger drug price cuts seen in national tender

[ET Net News Agency, 25 September 2019] The National Healthcare Security Administration
yesterday organized the national rollout tender of the 25 winning drugs in the "4+7"
procurement. The tender allows multi-winners: potentially 1/2/3 winners will be guaranteed
50%/60%/70% of predetermined market volume.
Within 25 drugs in this procurement tender, the average price cut of winners is 25%
(versus December 2018 results) or 59% (versus products' current selling price).
Citi Research thinks the magnitude of the price cuts is larger than the market's
expectation, and the market may need longer to digest the tender results. In the long
term, the research house reiterated its view that large pharma leaders could benefit from
consolidation despite the price cuts. (KL)

Remark: Real time quote last updated: 13/12/2019 17:59
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