HK-listed WuXi Biologics leads slide in pharma stocks on Merck COVID-19 pill success

Kintor Pharmaceutical

04/10/2021 07:36

** Shares of WuXi Biologics  2269.HK  lead slide in antibody
and vaccines producers, falling 8.1% in their biggest daily
percentage decline since July 26, after positive clinical trial
results for Merck & Co's  MRK.N  experimental antiviral COVID-19
pill 
    ** Stock on track to snap four straight sessions of gains -
biggest pct decliner on Hang Seng Index  .HSI  
    ** Sino Biopharmaceutical  1177.HK  drops 6.7% to HK$6.03,
lowest since August 2019; the third biggest decliner on the
benchmark index 
    ** Data in a clinical trial showed Merck's antiviral pill
for coronavirus could halve the chances of dying or being
hospitalized for those most at risk of contracting severe
COVID-19, boosting its stock on Friday while denting shares of
vaccine and coronavirus therapies makers  urn:newsml:reuters.com:*:nL1N2QX0QJ
    ** Merck and partner Ridgeback Biotherapeutics said they
plan to seek U.S. emergency use authorization for the pill as
soon as possible and to make regulatory applications worldwide
    ** In Hong Kong, Kintor Pharmaceutical  9939.HK  plunges
26.3%, the biggest daily percentage decline since listing in May
2020
    ** CanSino Biologics  6185.HK  drops 29.5%, the worst day
since listing in March 2019 
    ** Shanghai Fosun Pharmaceutical  2196.HK  slumps 21%, the
worst session since listing in October 2012
    ** Healthcare index  .HSCIH  drops 4.8%, the Hang Seng
Composite Index  .HSCI  falls 1.8%, and Hang Seng index  .HSI 
falls 2.2%


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