|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||92.15 - 95.50|
|52 Week Range||27.89 - 118.95|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
LONDON/SHANGHAI (Reuters) - Investors are betting on China's potential to feed the global pharmaceutical pipeline, putting a multi-billion-dollar price tag on a handful of stocks, even as the country struggles to close a huge R&D gap with the West. Shares in firms such as Chi-Med (LSE:HCM.L - News), Beigene (NasdaqGS:BGNE - News) and Zai Lab (NasdaqGM:ZLAB - News) have soared on international markets this year, fueled by hopes for their drugs and recent reforms to China's regulatory system that should speed up approvals. "It's almost a coming out party for China biotech," said Christian Hogg, chief executive of Hutchison China MediTech or Chi-Med, which presented promising data at a global medical congress this week on a lung cancer drug it discovered in China and is developing with AstraZeneca (LSE:AZN.L - News).
Celgene doesn’t let a partner down. The biotech on Monday bought 750,000 more shares of Acceleron (XLRN) for $28 million in a public stock offering. Celgene (CELG) remains Acceleron’s largest holder and is a partner for the latter’s lead program, Luspatercept, and for sotatercept.