Chinese Biopharma Stocks Rise After Beijing Urges Insurer Support

MT Newswires

Shares in a number of Chinese biopharmaceutical firms closed higher on Tuesday after Beijing called on insurers to invest in the sector.

Following the announcement, shares in Staidson Beijing Biopharmaceuticals closed 15% higher, while Thalys Medical Technology surged 10% and Lepu Medical Technology soared 8% during the close of trading on Tuesday.

The National Health Security Administration will tap commercial insurers to invest in the country's biopharmaceutical sector and help develop homegrown drugs, it said Monday.

China is encouraging commercial insurers to set up investment funds to "cultivate patient capital" to foster the development of innovative drugs, the NHSA said.

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Chinese Biopharma Stocks Rise After Beijing Urges Insurer Support

Risk Disclosure