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-0.00621092070511641 -0.00466801793501622 -0.0021497451016522 -0.00411522633744848 -0.012284257723727 -0.00356243473988092 0.00171979608132179 0.000614212886186317
Stock impact report

China Is Getting Ready to Take On the World’s Biggest Drugmakers [Bloomberg Business News]

BeiGene, Ltd. - American Depositary Shares (BGNE) 
Last beigene, ltd. - american depositary shares earnings: 3/2 04:05 pm Check Earnings Report
Eight years ago when Pittsburgh entrepreneur John Oyler was setting up a Beijing biotech company, he was warned that China was the wrong place to try drug development. “You can’t do anything innovative there,” was the refrain as funders turned him down. Oyler stuck it out and put in $10 million of his own money to get his  BeiGene Ltd.  off the ground. Then President Xi Jinping’s government began a massive overhaul of regulations in the country’s $122 billion drug market. Money rushed in, and these days investors point to China’s health-care sector as the possible birthplace of its next juggernauts — maybe even the next Alibaba Group Holding Ltd. BeiGene is now worth about $9 billion on the Nasdaq, a multiple of about seven times its 2016 IPO, and its experimental cancer drugs are being closely watched globally. Its sudden ascent is emblematic of the dramatic shift in the fortunes of China’s pharmaceutical industry, which for decades made only cheap copycat medicines. Show less Read more
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