ChinaBio Today -- Unfortunately, the ChinaBio® Stock Index participated – fully – in the October stock market unpleasantness. The CB® Index, made up of 15 US-listed biopharma companies whose primary business is in China, fell from 1079 at the beginning of the month to close at 772, a drop of 305 points or 28%. Since early August, when the CB® Index hit a high of 1502, the index has been cut almost in half. There is a morsel of good news is all of this. A strong final week prevented the figures from looking even worse. On Monday afternoon, the CBT Index closed at 664, its low point for the cycle. From there, it rallied 16% in the four sessions that closed out the month. This comparatively small rise may not provide a lot of consolation, but higher prices allow hope that perhaps better times lie ahead.
