Venus MedTech leads slide in HK-listed medical devices, pharmaceutical segment

Angelalign Technology

06/12/2021 07:54

** Shares of Venus MedTech (HangZhou) Inc  2500.HK  lead a
plunge in Hong Kong-listed medical device and pharmaceutical
products makers, falling 22.9% to HK$24.55 — a record low
    ** Venus MedTech stock set for worst day on record; the
biggest percentage decliner in the Hang Seng Composite Index
 .HSCI  
    ** Beigene  6160.HK  drops 14.4% in its worst day since July
27 — the fourth-biggest decliner in the Hang Seng Composite
Index  .HSCI  
    ** 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  urn:newsml:reuters.com:*:nL4N2SO0SX
    ** 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
    ** Stocks of InnoCare Pharma  9969.HK , Akeso Inc  9926.HK ,
Angelalign Technology  6699.HK , Zai Lab  9688.HK , CanSino
Biologics  6185.HK  and RemeGen  9995.HK  fall between 3.1% and
12.1% in late trade
    ** Hong Kong's healthcare index  .HSCIH  drops nearly 6% and
the Hang Seng Composite Index  .HSCI  falls 2.2%
    ** Hang Seng China Enterprises Index  .HSCE  declines 2.2%
and the benchmark Hang Seng Index  .HSI  eases 1.8%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))