N社 preferred CSPC PHARMA (01093.HK) as top pick, with a Buy rating and target price of $22 (down from $30).
3SBIO (01530.HK) was downgraded to Neutral with target price of $12.3 (down from $19.3),
whereas SINO BIOPHARM (01177.HK) was downgraded to Underweight with target price of $4.7 (down from $7.4).
N社 reported that a new trial bidding mechanism will be launched next year by the State Medical Insurance Administration in 11 key cities, covering 24% of China's drug sales.
N社 preferred CSPC PHARMA (01093.HK) as top pick, with a Buy rating and target price of $22 (down from $30).
3SBIO (01530.HK) was downgraded to Neutral with target price of $12.3 (down from $19.3),
whereas SINO BIOPHARM (01177.HK) was downgraded to Underweight with target price of $4.7 (down from $7.4).
N社 reported that a new trial bidding mechanism will be launched next year by the State Medical Insurance Administration in 11 key cities, covering 24% of China's drug sales.