{"id":8879,"date":"2011-05-15T19:05:10","date_gmt":"2011-05-15T19:05:10","guid":{"rendered":""},"modified":"2025-10-15T01:10:54","modified_gmt":"2025-10-15T01:10:54","slug":"health-care","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=8879","title":{"rendered":"Health Care"},"content":{"rendered":"

A look at the sorts of Chinese health-care companies that have listed shares in the last year\u2014including a maker of heparin, a blood-thinning product made from pig intestines\u2014suggests that the opportunities are vast. But Morgan Stanley Asia’s Bin Li, winner of The Wall Street Journal Asia’s Best Analysts survey in the health-care sector, cautions that China is still very much an emerging market. “There’s still a gap between the Chinese companies [and Western companies] in research and design,” says Mr. Li.<\/strong> <\/p>\n

It’s critical that analysts do good due diligence, and it isn’t enough to just spend time with management, he says. It’s also important to scrutinize the entire supply chain, including channel checks and talking to distributors and doctors. “Product quality is very important. I go to visit the Chinese companies to see whether they’re running their operations at a high standard,” Mr. Li said. Mr. Li knows a thing or two about product quality. He worked at Merck Research Laboratory as a scientist before entering the brokerage world with Merrill Lynch in New York. He also holds a Ph.D. in biochemistry and MBA from New York University. <\/p>\n

His top pick last year was United Laboratories International Holdings Ltd., which posted returns of close to 300% in 2010. Behind the rise was the strong performance of the company’s chemical commodity business. The company’s drug business also benefited from China’s 2009 National Drug Reimbursement List, which confers insurance reimbursement for medicines on the list. United Laboratories produces human insulin products for a market where the number of people with diabetes is growing rapidly, Mr. Li said. The National Drug Reimbursement List continues to drive his outlook for the health-care industry in China. This year, he favors companies including U.S.-listed Simcere Pharmaceutical Group and 3Sbio Inc., and Hong Kong-listed Lee’s Pharmaceutical Holdings Ltd., Sihuan Pharmaceutical Holdings Group Ltd., and Sino Biopharmaceutical Ltd.<\/strong> <\/p>\n

SOURCE<\/a>
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