Pharma firm Hepalink soars on trading debut

BEIJING - Shares of drugmaker Shenzhen Hepalink Pharmaceutical Co Ltd soared on the company's trading debut on Thursday against the backdrop of the sharp plunge of the overall market as analysts said it may boost investor interest in the pharmaceutical sector.

The price of Hepalink, the world's largest maker of the blood-thinner heparin, surged 18.36 percent to close at 175.17 yuan ($25.66). It climbed to the intraday high of 188 yuan from its initial public offering (IPO) price of 148 yuan, the highest on record for a Chinese stock.

Analysts said the strong performance of Hepalink indicated investors might turn to pharma shares, seen as a defensive investment in the short term amid the depressed market.