Morgan Stanley Discusses Impact of BeiGene, Ltd. (BGNE) 3 Products Added to China NRDL

Morgan Stanley analyst Matthew Harrison reiterated an Overweight rating and $310.00 price target on BeiGene, Ltd. (NASDAQ: BGNE) after the company announced the inclusion of three products in China's National Reimbursement Drug List (NRDL) for a total of five approved indications in China: tislelizumab (for 3L cHL and 2L mUC), Brukinsa (for R/R MCL and R/R CLL/SLL), and XGEVA (for GCTB). Mgt. provided background on each of the products and evidence that despite price concessions, listing in the NRDL has a significant impact on volumes which can overcome the price cuts.

The analyst stated "While mgt. would not comment on the pricing it negotiated, it did indicate its PD-1 pricing was below the current NRDL listed PD-1. We expect to see an acceleration in sales in 2021 and see NRDL listing as having a positive impact on revenues, especially as it will encourage additional hospital formulary listings which should improve access for non-NRDL product uses (i.e., lung cancer for PD-1)".

For an analyst ratings summary and ratings history on BeiGene, Ltd. click here. For more ratings news on BeiGene, Ltd. click here.

Shares of BeiGene, Ltd. closed at $245.00 yesterday.

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