ChinaBio Today -- You knew it was bad. And you were right. In calendar year 2008, the ChinaBio® Stock Index fell 57% (see index), dropping from 1674 at the end of 2007 to 719 one year later, a 915 point decline. The index is made up of 15 China-based biopharmas that trade in the US. It was not a pleasant journey. At the beginning of 2008, China stocks were the darlings of the world. At year’s end, the same companies were considered risky in the context of a very negative overall market in which risk is to be avoided.
