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2009-5-27 09:26:00 a.m. HKT, XFNA
DJ MARKET TALK: CS Tips Weak 2Q09 For China Pharmaceutical Sector
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| 0914 [Dow Jones] Credit Suisse expects weak 2Q09 for China pharmaceutical sector, with April data already indicating slower sales growth, especially for chemical drugs. Notes slowdown due to destocking by hospitals amid uncertainties about new Essential Drug List and related price cuts; lagging effect of economic downturn. "China's pharmaceutical sector in general outperformed the major indices recently, and we believe it is time to turn cautious, at least for the near term," says Credit Suisse. Keeps sector at Market Weight. Within sector, Shandong Weigao (8199.HK) ended down 4.0% at HK$19.88 Tuesday, China Pharmaceutical (1093.HK) down 0.5% at HK$4.30.(SUT) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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