The performance of pharmaceutical stocks was mixed yesterday after the mainland's top planning agency announced new price guidelines on 2,349 types of medicines to make them more affordable to the public.
The National Development and Reform Commission said 45 per cent of the price guidelines of the drugs would be lowered, while 49 per cent would remain the same.
The remaining 6 per cent will have their prices increased.
Traditional Chinese medicine producer Shineway was the exception, rising 2.7 per cent in a falling market to close at HK$8.52.
Sinopharm Group, the mainland's biggest drug distributor, dropped 2.94 per cent to HK$3.96, Chinese medicine maker Wuyi International Pharmaceutical dropped 2.82 per cent to 69 HK cents and China Pharmaceutical fell 1.61 per cent to HK$4.29.
Beijing's health-care reform strategy announced in April was designed to lower drug prices, focus on universal social medical insurance and encourage domestic sales of lower-end medical devices.
