An independent U.S. biotech investment company Thursday launched the world's first global benchmark for tracking the performance of companies leading China's biotech revolution.
"China's biopharma industry is on the cusp of a true revolution that has global implications," Brad Loncar, CEO of the Loncar Investments, said in a press release.
The Loncar China BioPharma Index (LCHINA) is the first and only stock market index available to the public that follows China's biopharma industry from both its regional and U.S. listed perspective, the press release said.
"Until today, no good stock market index existed as a benchmark for following this important trend. LCHINA is designed to be a global standard that anyone can use to quantify and track China's exciting biotech story going forward."
As the second index designed by the Loncar Investments, LCHINA currently has 32 holdings, including Shanghai Fosun Pharmaceutical Group, BeiGene, Genscript Biotech, Zai Lab and Hutchison China MediTech. The Nasdaq and the Hong Kong Stock Exchange (HKEX) take 22.4 and 77.6 percent of index weighting, respectively.
The company's first index, focusing on immunotherapy stocks, was debuted in 2015 with the name of LCINDX.
