Shanghai Fudan-Zhangjiang Bio-Pharmaceutical (HKG:1349, SHA:688505) expects its sales in the second quarter to be affected by cutting the price of some of its products.
The pharmaceutical company plans to reduce the price of its drug, doxorubicin hydrochloride liposome injection, by at least 35% lower than previous bidding prices, according to a Hong Kong Stock Exchange filing on Wednesday.
The reduction, which was in compliance with the rules and requirements of each province in China, was effective starting Thursday, May 1.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.