BeiGene gets expanded reimbursement coverage in China for three products
Sino-American biotech BeiGene (Nasdaq: BGNE) saw its shares rise 3.5% to 160.51 renminbi, after it announced that the National Reimbursement Drug List (NRDL) released by China’s National Healthcare Security Administration (NHSA) has been updated to include four new indications for its PD-1 inhibitor tislelizumab.
Kyprolis (carfilzomib), a proteosome inhibitor licensed-in from US biotech Amgen (Nasdaq: AMGN), is included for the first time and Xgeva (denosumab), a RANKL inhibitor and another Amgen asset, successfully renewed this year. The updated NRDL will officially take effect on March 1, 2023.
Tislelizumab is not approved for use outside of China. Ex-China rights have been licensing to Swiss pharma giant Novartis (NOVN: VX), as part of a 2021 deal worth up to around $2 billion.
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