China Healthcare | Asia Pacific Weekly Rx Express 2026.07.24

Research evidence excerpt

China Healthcare | Asia Pacific Weekly Rx Express 2026.07.24

Update

July 26, 2026 08:51 PM GMT

Morgan Stanley Asia Limited+MChina Healthcare | Asia Pacific Laurence Tam

Equity Analyst

Weekly Rx Express 2026.07.24 Laurence.Tam@morganstanley.comAlexis Yan, CFA +852 2239-1753

Alexis.Yan@morganstanley.com +852 2239-7953

Key Takeaways Jack Lin

China healthcare rose 1.0% WoW (HSI +1.6%). Heading into earnings season, Jack.Lin@morganstanley.com +852 3963-3746

investor optimism toward CDMO names remains high. Marco Wong

Research Associate

Year to date, the sector is down 3.5% (HSI -2.6%), with CDMOs (+30.5%) and Marco.Wong@morganstanley.com +852 3963-2021

Vanessa Liao

Biotechs (+9.7%) among the better-performing sub-sectors.

Hisun in-licensed Greater China rights to TISA-818, an innovative small molecule Vanessa.Liao@morganstanley.com +852 3963-0115

drug for acute respiratory distress syndrome and IPF, from EnliTISA.

Sino Biopharm's IM-101, a PreS1 recombinant fusion protein injection for chronic

hepatitis B, was approved by the NMPA to start clinical trials.

Innovent's IND for IBI3042, a once-weekly oral small-molecule GLP-1 agonist for

China Healthcare

T2D and obesity, was accepted for review by the NMPA. Asia Pacific

Industry View Attractive

The Trump administration reportedly plans to impose tariffs of up to 200% on

generic drugs imported into the US, starting at 100% in Aug 2028 and rising to

200% from Aug 2029, as part of its ongoing re-shoring initiative (CNBC, 22 Jul

2026). Korean CDMO Samsung Biologics announced the acquisition of Swiss

peptide CDMO PolyPeptide Group for US$1.8bn. PolyPeptide has six production

plants across Sweden, Belgium, the US, France and India. Existing CDMO contracts

will be transferred to Samsung Bio after the deal is completed (note). Lilly's