On September 9, BEONE MEDICINES fell 3.01% in regular trading to HK$206.6, with turnover of HK$259 million, marking a third consecutive session of decline as the stock continues to retreat from recent highs.

The sustained weakness is attributed to the market's ongoing digestion of the company's voluntary agreement with the US government to supply its PD-1 inhibitor tislelizumab (Tevimbra) through the Medicaid program at agreed-upon prices. The deal, announced in early September, is expected to cover approximately 8% of the drug's eligible US patient population. While multiple brokerages have noted that the company's flagship BTK inhibitor zanubrutinib — which accounted for 74% of product net revenue in the first half — remains entirely outside the Medicaid pricing framework with its pricing unaffected, broader concerns over US drug pricing policy continue to pressure sentiment.

The biotech sector traded mostly lower, with INNOVENT BIO down 1.2%, AKESO down 1.09%, and EVEREST MED down 4.54%. Southbound funds have been net sellers of BEONE MEDICINES for 19 of the past 20 trading sessions, with cumulative net outflows of 13.95 million shares over that period.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)