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Ping An, Alibaba, JD.com Healthcare Units Tumble As State Media Calls For Stepped Up Regulation
The app download page for JD Doctor, operated by JD Health, arranged on a smartphone. Roy Liu/Bloomberg Chinese online healthcare stocks plunged more than 10% after a state-run newspaper called for greater supervision of prescription drugs sold on the internet, sparking fears that the government is preparing to introduce new regulations. Ping An Healthcare and Technology, which operates the online health consultation app Ping An Good Doctor, saw its shares tumble 14.4% on Friday. The sharp drop wiped out $8.5 billion of the Shanghai-based firm’s market cap. Shares of Alibaba Health Information Technology also fell nearly as much, dropping … Read more

