Better Together: New Deal Adds Weight To China Biosimilar/Biobetter Swap
Perhaps encouraged by the recent successful initial public offering of Innovent Bio, more biologics developers in China are turning towards innovative biologics and away from traditional biosimilars.
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Suzhou-based Innovent Bio becomes the fourth biotech from mainland China to go public in Hong Kong, and its strong first-day performance may have given the seemingly spooked market so far for such companies a shot of confidence.
Interchangeability, reimbursement, approval delays: as the issues keep piling up, will biosimilars offer attractive opportunities for pharma firms in China? Executives from front-running biotechs and legal experts shared their views at a recent meeting in Shanghai.
Much of the biopharma and other health-related industries in China were already feeling the chill from ongoing macro-economic and other headwinds this year, which now look set to be complicated further by the added strain of social unrest over strict COVID containment policies. The combination of factors is already prompting some to take steps towards restructuring and divestments to survive.