@BioSignalon X · 2026-09-10
A tamper-evident, on-chain timestamp of what this post said. Captured 2026-09-12 18:07 UTC.
A 25-year-old New Zealander was quoted up to $600,000 for CAR-T in Melbourne. He flew to Shanghai instead, paid less than half, and was told on 18 August that his non-Hodgkin lymphoma was in complete remission. On Tuesday I wrote that China's CAR-T list prices give every Western hospital system a number to argue against in a contract negotiation. Michael Walters is the version of that argument nobody has to wait for. He did not negotiate. He bought a plane ticket. He had already failed chemotherapy, radiotherapy and immunotherapy in Auckland. New Zealand neither funds CAR-T nor offers it. Australia funds it for its own residents with relapsed large B-cell lymphoma, and he is not an Australian resident, so $600,000 is what the therapy costs when nobody is subsidising it. Shanghai SinoUnited has been treating international patients since July 2024 and opened a dedicated centre for them in May 2025. Twelve foreign patients by that point, from New Zealand, the UK, Germany, the Philippines and Hong Kong, on a 23-day package with visas and transfers handled. A second New Zealander, treated for myeloma in Shanghai in May 2025 at around $150,000, counted four more of his countrymen in China at the same time. Here is the read-through, and the exposed name is American. Yescarta lists in mainland China at RMB 1.2 million, about $170,000. The US WAC is $503,580. Same molecule, same brand, a third of the price. And Gilead is no longer on that side of the trade: in September 2024 Kite sold its half of the Fosun Kite joint venture to Fosun for $27 million, keeping vector supply and a 7 to 13 percent royalty on Chinese Yescarta and Tecartus sales. Gilead now collects a single-digit royalty on the cheap version of its own product, in the market a handful of its Western patients have started flying to. Twelve patients is a rounding error against US infusion volumes and will stay one for a while. What it demonstrates is that the channel works end to end, and that Chinese cell therapy reached Western demand without filing anything anywhere. $GILD $2196 HK $2171 HK $XBI $IBB ✨ Made with AI
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