Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. BeiGene, Ltd.
  6. News
  7. Summary
    6160   KYG1146Y1017

BEIGENE, LTD.

(6160)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Drugmakers cut prices by 62% on average to get China state insurance listing

12/03/2021 | 03:19am EST
Employee is seen inside a pharmacy in Suifenhe

BEIJING (Reuters) - Pharmaceutical firms have agreed to cut prices by 61.7% on average for 67 medicines to be included in China's national medical insurance coverage in a new round of negotiations, Chinese authorities said on Friday.

Inclusion on the National Reimbursement Drugs List has helped many global drugmakers such as Merck & Co Inc and Novartis AG book strong product sales growth in China in recent years, as their products have become more widely available.

The newly added 67 medicines are branded drugs with no generic versions available in China and include blockbusters such as Eli Lilly & Co's psoriasis treatment Taltz and Johnson & Johnson's multiple myeloma drug Darzalex, according to the National Healthcare Security Administration (NHSA).

Products from domestic companies such as InnoCare Pharma Ltd and BeiGene Ltd were also included.

Last year, drugmakers agreed to an average price cut of around 50% for more than 100 medicines, underscoring China's strong bargaining power, as it seeks to make more drugs affordable for its 1.4 billion people.

The deepest price cut among the 67 medicines was 94%, NHSA official Huang Huabo told a news conference without naming the product.

In negotiations with Biogen Inc for its rare neuromuscular disease drug Nusinersen, the government negotiator told a company official that the firm should "work harder" in giving price cuts, stressing that the government's price cap was non-negotiable, before the sides reached an agreement, video clips from state broadcaster CCTV showed.

Biogen did not immediately respond to a Reuters request for comment.

In another example showing the state's heavy influence, Danish diabetes drugmaker Novo Nordisk A/S last month said its sales growth would slow by 3% in 2022 because of lower prices and reduced sales volume in China.

Insulin makers agreed last month to cut prices by 48% on average to be qualified to bulk supply public hospitals.

For certain medicines already included in the reimbursement list such as PD-1 inhibitors from Shanghai Junshi Biosciences Co Ltd and BeiGene, the government widened their coverage by adding more disease types.

Apart from the 67 brand-name drugs, seven medicines with generic versions were also added to the list, while 11 medicines of low clinical value were removed, NHSA said.

(Reporting by Roxanne Liu and Ryan Woo; Editing by Miyoung Kim and Christopher Cushing)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BEIGENE, LTD. 0.07% 142.6 End-of-day quote.-11.43%
BIOGEN INC. -2.52% 232.74 Delayed Quote.-0.26%
INNOCARE PHARMA LIMITED -0.15% 13.44 End-of-day quote.-12.16%
NOVARTIS AG -0.35% 82.19 Delayed Quote.2.70%
NOVO NORDISK A/S -0.85% 633.6 Delayed Quote.-15.01%
All news about BEIGENE, LTD.
01/10BEIGENE : China NMPA Approves Tislelizumab as Second- or Third-Line Treatment for Patients..
PU
01/10BEIGENE, LTD. : Regulation FD Disclosure, Other Events, Financial Statements and Exhibits ..
AQ
01/07BeiGene - China NMPA Approves Tislelizumab as Second or Third-Line Treatment for Patien..
AQ
01/06Chinese Regulators OK BeiGene's Non-Small Cell Lung Cancer Treatment
MT
01/06BeiGene to Present at the J.P. Morgan 40th Annual Healthcare Conference
BU
01/06Chinese Regulator Approves BeiGene's Tislelizumab as Second- or Third-Line Treatment fo..
MT
01/06China NMPA Approves Tislelizumab as Second- or Third-Line Treatment for Patients with L..
BU
01/06BeiGene, Ltd. Announces China NMPA Approves Tislelizumab as Second- or Third-Line Treat..
CI
01/05Asian ADRs Move Higher in Wednesday Trading
MT
01/05China Mobile shares edge higher in Shanghai debut
RE
More news
Analyst Recommendations on BEIGENE, LTD.
More recommendations
Financials (USD)
Sales 2021 1 214 M - -
Net income 2021 -1 191 M - -
Net cash 2021 3 418 M - -
P/E ratio 2021 -21,0x
Yield 2021 -
Capitalization 24 519 M 24 519 M -
EV / Sales 2021 17,4x
EV / Sales 2022 15,2x
Nbr of Employees 7 600
Free-Float 67,7%
Chart BEIGENE, LTD.
Duration : Period :
BeiGene, Ltd. Technical Analysis Chart | 6160 | KYG1146Y1017 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 238,64 $
Average target price 406,74 $
Spread / Average Target 70,4%
EPS Revisions
Managers and Directors
John V. Oyler Director
Xiao Bin Wu President & Chief Operating Officer
Julia Wang Chief Financial & Accounting Officer
Jane E. Huang Chief Medical Officer-Hematology
Lai Wang Global Head-Research & Development
Sector and Competitors
1st jan.Capi. (M$)
BEIGENE, LTD.-11.43%24 519
GILEAD SCIENCES, INC.-1.16%90 027
REGENERON PHARMACEUTICALS-2.58%64 327
VERTEX PHARMACEUTICALS6.58%59 510
WUXI APPTEC CO., LTD.-3.73%52 665
BIONTECH SE-23.97%47 338