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Tony Ren

Tony Ren
The latest news and top stories on Tony Ren, head of Asia Healthcare Research at Macquarie Capital. He leads expert analysis on the Asian healthcare sector, identifying investment opportunities and covering numerous stocks across the continent. Ren’s responsibilities include providing insights on biotech funding trends, the impact of tariffs and China’s evolving healthcare policies. He previously held significant roles, including Head of North Asia Healthcare Research at CLSA Ltd. and Research Analyst at JPMorgan Securities (Asia Pacific) Ltd., demonstrating extensive experience in the region’s financial and healthcare markets. His expertise lies in market dynamics and strategic implications for the industry.
The US$60 billion deal value represents a 73 per cent jump from the same period a year earlier. Photo: Shutterstock
Biomedicine: Companies

China biotech deals hit record as innovative drugs draw global interest

Deals reach US$60 billion in first quarter after analysts say Chinese biotech firms have shown substantial technological advancements.

China’s private sector

China’s obesity drug makers take on global giants as Novo Nordisk patent expires

Made in China 2025

Global drug giants double down on China amid push for self-reliant supply chains

Two Sessions 2026

China and Hong Kong should relax biotech listing rules, venture capitalist says

Foreign investors are returning to China’s healthcare sector, but IPO bottlenecks and takeover rules could deter deals, VC Nisa Leung says.

Biotechnology was explicitly included as a “strategic emerging pillar industry” in China’s government work report during the “two sessions” Photo: Shutterstock
Made in China 2025

China biotech outlicensing tops US$52 billion in first 2 months

The latest deals are Sino Biopharmaceutical’s partnership with France’s Sanofi and Antengene’s agreement with Belgium’s UCB.

Made in China 2025

Hong Kong-listed Chinese drug firms set to turn corner on rising sales, deals

Chinese pharmaceutical firms are poised for profit growth, driven by innovative drug sales and licensing deals, despite pricing pressures.

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China’s private sector

Lab monkey price tag climbs to US$20,000 thanks to China’s biotech boom

The cost of a single monkey exceeds the average annual salary in China and approaches a pandemic-era spike amid growth in drug licensing deals.

Founder Securities expects the annual domestic supply of experimental monkeys in China to range between 49,000 and 52,400 animals from 2025 to 2027. Photo: Shutterstock
Made in China 2025

China’s weight-loss drug war: prices slashed up to 80% as obesity crisis worsens

Foreign, local firms fight for market share as number of overweight or obese adults could top 630 million by 2050, from 400 million in 2021.

Made in China 2025

China’s new drug insurance: lifeline for patients or squeeze on big firms?

New insurance formulary trims costs of Alzheimer’s and cancer therapies and marks a small win for global novel drug makers.

Biomedicine: Industry Trends

China’s drug developers stretch to become a global force

Although a start-up’s recent triumph is seen as a ‘DeepSeek moment’, domestic players still trail world-beating pharma firms, experts say.

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Illustration: Henry Wong
IPO

Chinese healthcare, biotech firms flock to Hong Kong for IPOs

September yields at least 23 listing applications from mainland biotech firms eyeing the city’s lucrative fundraising market.

The Hang Seng Biotech index, which tracks the 50 largest biotech, pharmaceutical and medical-device firms listed in Hong Kong, has surged 109 per cent this year. Photo: Shutterstock
Biomedicine: Companies

Pfizer’s Metsera acquisition to spur Chinese search for new weight drugs

The deal, worth up to US$7.3 billion, will encourage ongoing investment by mainland players but not draw in new rivals, analysts say.

Biomedicine: Companies

Chinese drug start-ups poised for 2025 profits, in industry milestone

Innovent likely to post a first-half net profit of US$36.4 million, and BeOne’s first-half net profit is expected to come in at US$42 million.

Biomedicine: Companies

China’s plan to boost drug coverage no ‘magic wand’: analysts

Drug companies will be eager to have their products approved, but insurers will struggle to offer attractive coverage, analysts say.

A worker at Shijiazhuang Yiling Pharmaceutical works on a production line in Shijiazhuang, Hebei province, on November 4, 2021. Photo: Xinhua
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