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Friday
May082009

Pharmaceutical Sector-Government encourage the development of Chinese Medicine and healthcare 

DateFriday, May 8, 2009 at 10:37AM

 

 

Newsflow. Chinese State Council issued “the opinion on supporting and encouraging the development of Chinese medicine and healthcare" yesterday. Based on the Opinion, the qualified Chinese medical clinical house and Chinese medicine product will be in the medical insurance list.

 

Related listco. Shineway (2877 HK, HK$5.25), Wuyi Pharma (1889 HK, HK$0.78) and Guangzhou Pharma (874 HK, HK$3.12) are current HK listco with Chinese medicine exposure. They are currently trading at 6.8x, 7.5x FY12/09F P/E and 16.1x FY12/09F P/E respectively based on market consensus and our estimate.

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