Hong Kong’s tough path to biotech glory

After the rapid strides it has made as a destination for biotech listings in less than three years, Hong Kong now faces bigger challenges in overtaking New York.

Hong Kong may have made rapid strides as a top destination for the listing of biotechnology companies, but the path to the global crown it covets will likely neither be short nor easy.

Inherent risks in drug research activity are daunting by themselves. Increasing competition from mainland stock exchanges and uncertainty over the regulatory environment in mainland China add to the challenge. Hong Kong also needs to improve its appeal as a listing venue for companies outside Greater China, analysts say.

In less than three years since Hong Kong amended rules to allow early-stage biotech companies that had yet to record any revenue to float their shares,...

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