Fentanyl-related stocks rebound after China-US agreement to strengthen drug management

Source:Global Times Published: 2018/12/3 12:03:39

Most fentanyl-themed stocks rebounded following a weak opening on Monday morning, as the US and China reached an agreement to strengthen management on drugs containing fentanyl during the G20 summit in Argentina.

Shares in Xianju Pharma rose 1.61 percent by 11:09 am on Monday morning, while shares in Sinopharm spiked 2.37 percent by that time after a slump of 0.26 percent in the 20 minutes after the market opened. 

Shares in Humanwell Healthcare also rebounded after it slumped by 4.24 percent shortly after trading started.

The stock rebound comes as the US and China agreed to strengthen cooperation in drug management, including control on fentanyl-related products, the Xinhua News Agency reported on Sunday, citing China's Foreign Minister Wang Yi.

Fentanyl is used as an anesthesia for surgery and to treat pain before, during and after surgery.

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