On September 10, INNOCARE fell 5.73% in regular trading, trading at HK$13.65/share, with turnover of HK$71.94 million. The decline came amid broad-based selling across the biotech sector following the conclusion of the national medical insurance directory negotiation and the inaugural commercial insurance innovative drug catalog price negotiation on September 9.
The five-day national negotiation concluded with 124 drugs entering basic medical insurance pricing discussions and 12 innovative drugs participating in commercial insurance catalog negotiations. INNOCARE was among the companies that entered negotiations on the third day. While the dual-catalog mechanism — linking basic medical insurance with commercial insurance — is seen as structurally positive for innovative drug companies, the completion of the event appears to have triggered a broad sector sell-off.
Within the Biotechnology sector, the overall performance was weak. Among individual stocks, INNOVENT BIO fell 3.11%, AKESO fell 1.16%, 3SBIO fell 3.78%, BEONE MEDICINES fell 0.77%, and EVEREST MED fell 7.62%.
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