Jiangsu Hengrui Medicine

Hengrui, which made $2.5 billion in sales last year, invests twice as much as any other pharma in R&D, and its investments are paying off: It’s China’s largest pharmaceutical company and a leader in innovation. China’s plan to bulk-purchase generic drugs in 2020 will drive down industry prices, but analysts say only 1% to 2% of Jiangsu’s revenue will be impacted, while competitors in its peer group will be more exposed.

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