China Pharma Stocks Surge on Innovative Drug Support Speculation
- CSI’s healthcare index rose as much 3.6% on Thursday
- Sichuan Kelun-Biotech surged as much as 29% in Hong Kong
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Chinese pharmaceutical stocks rose amid speculation that authorities are working on a plan to support the development of world-leading innovative drugs.
The CSI 300’s healthcare sub-gauge rose as much as 3.6%, the most since Feb. 6, before paring the gain. Drugmaker stocks rose as analyst firms, including Nomura Holdings Inc., cited an unverified government document detailing a plan for “full-scale support” for innovative drug development.