Ascentage Pharma Group International - American Depository Shares

China NRDL inclusion broadens access but typically compresses price levels and raises volume dependence, which structurally caps pricing power domestically. Internationally, oncology assets can command strong pricing if they deliver clear clinical differentiation, but Ascentage’s flagship programs have not yet secured U.S./EU approvals.

Olverembatinib’s differentiation in resistant CML and lisaftoclax’s daily dose ramp‑up convenience relative to weekly venetoclax titration suggest some latent pricing power if approved ex‑China, yet realization is uncertain and years away. Overall we view current pricing power as limited‑to‑moderate.