China to audit 77 drugmakers, government likely to speed up pricing reform
On the morning of June 4 2019, China’s Ministry of Finance, or MOF, announced it and the Medical Insurance Administration will jointly audit the accounting practices of 77 drugmakers during June and July. The stocks of Chinese drugmakers have fallen sharply following the news as the market braces for more policy uncertainty.Among our coverage, the list includes narrow-moat Shanghai Pharmaceuticals, CR Sanjiu (a listed subsidiary of narrow-moat CR Pharmaceuticals), and one unlisted subsidiary of...
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