Chinese Drugmakers’ Shares Surge, Travel Stocks Fall as Virus Outbreak Worsens

Chinese Drugmakers’ Shares Surge, Travel Stocks Fall as Virus Outbreak Worsens

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1 min read

A widening of a mysterious pneumonia-like virus helped propel of some drugmakers to multiyear highs, while travel stocks fell, as investors made bets on the potential economic impact of the disease in the region.

Shares of a Hong Kong-listed company that makes a generic version of the antiviral drug Tamiflu jumped 19.4% to a record closing high. The firm, YiChang HEC Changjiang Pharmaceutical Co., is China’s dominant producer of the drug known as oseltamivir, which can help quickly alleviate flu symptoms…

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