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J&J Q2 Sales Rise 8% but Profits Plunge 23% Amid China COVID Lockdowns
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US giant Johnson & Johnson (J&J, NYSE: JNJ) reported Q2 2022 financials, showing 8.0% year-on-year (YOY) sales growth in constant currency to $24.02 billion but a 23.3% net profit drop to $4.81 billion. CFO Joseph Wolk cited the strong dollar and China’s COVID-19 lockdowns as key factors, prompting a full-year…
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Novartis Q2 Results Show 5% Growth, Led by Entresto and Cosentyx
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Swiss pharma giant Novartis (NYSE: NVS) reported a 5% year-on-year (YOY) revenue increase in constant currency terms to $12.79 billion in Q2 2022, though dollar sales dipped 1% due to currency strength. Earnings per share (EPS) rose 1%, or 10% excluding the $20.7 billion Roche stake sale in November 2021.…
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Aidea Pharmaceutical Acquires 19.96% ND Pharm Stake to Boost Urokinase Business
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China’s Jiangsu Aidea Pharmaceutical Co., Ltd (SHA: 688488) has acquired a 19.96% stake in ND Pharm, becoming the firm’s second-largest shareholder. Financial terms were undisclosed. The move positions Aidea to leverage ND Pharm’s market-leading urokinase products, complementing its existing human protein portfolio. ND Pharm’s Market PositionND Pharm markets injectable urokinase…
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NHSA Issues New Medical Service Pricing Policy to Enhance Public Welfare and Innovation
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The National Healthcare Security Administration (NHSA) has released a new notification on medical service pricing management, effective immediately. The policy aims to stabilize and orderly manage medical service pricing, enhance public welfare in basic medical services, promote innovation, and ensure high-quality, efficient, and affordable healthcare for the public. Key Policies…
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MicroPort CardioFlow Completes First Clinical Use of Dry Valve Transcatheter Mitral Valve System
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MicroPort CardioFlow Medtech Co., Ltd (HKG: 2160), a spin-off of China-based MicroPort Scientific Corp (HKG: 0853), announced the successful completion of the first clinical application of its transcatheter mitral valve replacement (TMVR) system. The procedure demonstrated the system’s safety and efficacy, with postoperative mitral regurgitation resolved and no complications such…
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WuXi Biologics to Build $1.4B CRDMO Hub in Singapore, Creating 1,500 Jobs
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China-based WuXi Biologics (HKG: 2269), a leading Contract Research, Development, and Manufacturing Organization (CRDMO), announced plans to establish a $1.4 billion CRDMO service center in Singapore. The facility, supported by Singapore’s Economic Development Board (EDB), will include a biologic drug R&D service center and large-scale production plant, adding 120,000 liters…
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Antengene and Celularity Partner on Bispecific Antibody and NK Cell Therapy Combo
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China-based Antengene Corporation Ltd (HKG: 6996) announced a preclinical partnership with U.S. firm Celularity Inc. to evaluate the combined potential of Antengene’s bispecific antibody (BsAb) and Celularity’s cryopreserved natural killer (NK) cell therapy derived from human placental hematopoietic stem cells. Financial terms were not disclosed. Collaboration DetailsThe partnership aims to…
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Kexing Pharmaceutical Launches Phase III Influenza Vaccine Study in Chile
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China-based Kexing Pharmaceutical (SHA: 688136) announced the start of a Phase III clinical trial in Chile to evaluate the safety and immunogenicity of its quadrivalent influenza virus split vaccine in individuals aged three and older. The vaccine received market approval in China in June 2020. Study DetailsThe trial will enroll…
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Henlius Biotech’s HLX14 Biosimilar Wins TGA Approval for Global Phase III Osteoporosis Study
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China-based Shanghai Henlius Biotech Inc. (HKG: 2696) received approval from Australia’s Therapeutic Goods Administration (TGA) to conduct a global multi-center Phase III study of HLX14, its biosimilar of Amgen’s Prolia/Xgeva (denosumab), targeting postmenopausal osteoporosis in high-fracture-risk women. Study DetailsThe trial will evaluate the efficacy, safety, tolerability, and immunogenicity of HLX14…
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Luye Pharma’s Rotigotine Microspheres Meet Phase III Goals in Parkinson’s Study
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China-based Luye Pharma Group (HKG: 2186) announced that its Phase III clinical study for rotigotine extended-release microspheres for injection (LY03003) in Parkinson’s disease (PD) met all pre-set endpoints. The trial demonstrated the drug’s efficacy and safety in early-stage PD patients. Study DetailsThe multi-center, randomized, double-blind, placebo-controlled study enrolled 294 early…
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Eli Lilly’s Retevmo Wins Special Approval in China’s Lecheng Medical Pilot Zone
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Eli Lilly & Co. (NYSE: LLY) has secured special approval for its RET kinase inhibitor Retevmo (selpercatinib) in China’s Bo’Ao Lecheng Medical Tourism Pilot Zone. The drug will be available at the Boao Super Hospital to treat RET gene fusion-positive non-small cell lung cancer (NSCLC), medullary thyroid cancer (MTC), and…
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Attec Completes Pre-Series A Financing with Sequoia China Backing Protein Degradation Tech
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China-based biotech startup Attec has completed a pre-Series A financing round, with its protein degradation capabilities drawing investment from Sequoia China. The deal size was not disclosed. Company BackgroundFounded by Shanghai Fudan University professor Dr. Yu Ding, Attec specializes in drug discovery using protein degradation technology. The firm’s small-molecule glue…
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Innovent Biologics’ Mazdutide Meets Phase II Goals in Type 2 Diabetes Study
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China-based Innovent Biologics Inc. (HKG: 1801) announced that its Phase II study of mazdutide (IBI362/OXM3) in Chinese patients with type 2 diabetes met primary endpoints. The multi-center, randomized trial compared mazdutide with placebo and dulaglutide in patients with inadequate glucose control despite lifestyle interventions and/or stable metformin doses (NCT04965506). Study…
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Digital Precision Medicine Raises Hundreds of Millions in Series B Financing for Molecular Imaging Innovation
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China-based Digital Precision Medicine (DPM), a molecular imaging and fluorescence endoscopy manufacturer, has reportedly raised hundreds of millions of renminbi in a Series B financing round. The round was co-led by Softbank China Venture Capital and Longmen Fund, with participation from Hangzhou Risheng Private Equity Fund Management Co., Ltd and…
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Sihuan Pharma’s Fourth-Gen Insulin Degludec NDA Accepted by NMPA for Review
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China’s Sihuan Pharmaceutical Holdings Group Ltd (HKG: 0460) announced that its New Drug Application (NDA) for a fourth-generation insulin degludec analog has been accepted by the National Medical Products Administration (NMPA) for review. The drug is the first insulin degludec analog to enter the marketing review stage after the originator…
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Sihuan Pharma’s Anaprazole Enters Phase II Study for Reflux Esophagitis
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China’s Sihuan Pharmaceutical Holdings Group Ltd (HKG: 0460) announced that its subsidiary Xuanzhu Biopharmaceutical Co., Ltd has received approval to proceed with a Phase II clinical study of anaprazole for the treatment of reflux esophagitis (RE) and associated symptoms, including acid reflux, heartburn, and retrosternal pain. Drug ProfileAnaprazole, the only…
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Takeda Opens R&D Asia-Pacific Headquarters in Shanghai to Boost Drug Development
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Japan’s Takeda Pharmaceutical Co., Ltd has inaugurated its R&D Asia-Pacific headquarters in Pudong, Shanghai. The new site will serve as the firm’s Asian drug development center, marking an upgrade to its China R&D strategy. China StrategyTakeda launched a major China strategy in 2022 aimed at increasing R&D investment and accelerating…
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Tongling Bionic Raises Hundreds of Millions in Series B Financing for Cardiopulmonary Equipment Development
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Anhui Tongling Bionic Technology Co., Ltd, a Chinese developer of cardiopulmonary circulatory assist equipment, has reportedly raised hundreds of millions of renminbi in a Series B financing round led by Weigao Holding’s fund. The proceeds will be used for product research and development and facilities construction. Company BackgroundFounded in 2016…
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Sesen Bio Terminates Vicineum Development After FDA Talks, Citing Phase III Costs
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Sesen Bio Inc. (NASDAQ: SESN) announced the termination of clinical development for Vicineum (VB4-845), its next-generation antibody drug conjugate (ADC) for non-muscle invasive bladder cancer, following discussions with the U.S. FDA. The decision cited costs associated with conducting another Phase III study. Drug Profile and Licensing DealVicineum, developed on Sesen…
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Huadong Medicine’s GFR Monitoring System Accepted by NMPA for Review
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China-based Huadong Medicine Co., Ltd (SHE: 000963) announced that its market filing for a glomerular filtration rate (GFR) dynamic monitoring system has been accepted by the National Medical Products Administration (NMPA). The device, co-developed by subsidiaries Hangzhou Zhongmei Huadong Pharmaceutical and MediBeacon Inc., measures GFR non-invasively in patients with normal…
