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GSK Reports Strong Q4 and Full-Year 2022 Financials Amid Strategic Shift
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UK-based GlaxoSmithKline plc (NYSE: GSK) has released its financial report for Q4 and the full-year 2022, revealing strong performance since spinning off its consumer health division last year. The strategic shift in focus to vaccines and specialty medicines produced 13% year-on-year growth in global sales to GBP 29.3 billion (USD…
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Bristol-Myers Squibb’s Ozanimod Approved in China for Multiple Sclerosis
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Bristol-Myers Squibb (BMS, NYSE: BMY) has announced receiving marketing approval from China’s National Medical Products Administration (NMPA) for its ozanimod, a novel selective sphingosine-1-phosphate (S1P) receptor modulator. The drug is now approved to treat recurrent multiple sclerosis (MS), including clinically isolated syndrome, relapsing-remitting multiple sclerosis, and active secondary progressive multiple…
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Roche Reports 2% YOY Growth in 2022; Ocrevus and Hemlibra Drive Sales
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Swiss pharmaceutical giant Roche (SWX: RO) released its 2022 financial report this week, recording CHF 63.3 billion (USD 69.5 billion) in global sales. The company achieved a modest 2% year-on-year (YOY) growth at constant exchange rates (CER), impacted by lower COVID-19-related sales across both its Pharmaceuticals and Diagnostics divisions. Pharmaceuticals…
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Merck & Co. Posts 22% YOY Sales Growth; Keytruda and Gardasil Drive Revenues
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Merck & Co. (NYSE: MRK) has released its Q4 and full-year 2022 financial report, showcasing a robust performance with 22% year-on-year (YOY) growth in annual global sales to USD 59.3 billion. Excluding sales of COVID-19 therapy Lagevrio (molnupiravir) and foreign exchange impacts, growth was 15%. However, Q4 performance saw a…
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Takeda Posts Strong Q3 Results, Announces Pipeline Advances in Oncology and Rare Diseases
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Japan-based pharmaceutical giant Takeda (TYO: 4502, NYSE: TAK) has announced its financial results for the third quarter of the fiscal year 2022, ending December 31, 2022. The company reported a 13.9% year-on-year (YOY) increase in global revenues to JPY 3,071 billion (USD 23.882 billion). Core revenues, excluding currency exchange impacts,…
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GenScript’s CAR-T Therapy Carvykti Achieves $55M in Sales, Awaits China Approval
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China-based Contract Research Organization (CRO) GenScript Biotech Corporation (HKG: 1548) has announced that sales of its subsidiary company Legend Biotech Corporation’s (NASDAQ: LEGN) BCMA-directed chimeric antigen receptor T cell (CAR-T) therapy, Carvykti (ciltacabtagene autoleucel), reached USD 55 million as of December 31, 2022. This figure, yet to be independently audited,…
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Zhejiang Gongdong to Acquire Trademark Plastics for Overseas Expansion
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China-based Zhejiang Gongdong Medical Technology Co., Ltd is set to acquire core assets of US firm Trademark Plastics, Inc. for USD 42 million. This strategic move aims to enhance the company’s overseas manufacturing capabilities and achieve synergies through complementary product portfolios. Acquisition DetailsFounded in 1989, Trademark Plastics, Inc. (TPI) specializes…
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Innovent Biologics Posts Strong Q4 Revenues Amid COVID-19 Challenges
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Innovent Biologics Inc. (HKG: 1801) announced product revenues of RMB 1 billion (USD 148.2 million) during Q4 2022. Despite COVID-19 disruptions impacting sales, the company managed to offset these challenges with strong performances from new products and its anti-tumor drug Cyramza (ramucirumab), which was launched during the period. Innovent expects…
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Shanghai Weimu Medical Raises Pre-Series A+ Funding for Clinical Development
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China-based high-end interventional device maker Shanghai Weimu Medical Technology Co., Ltd has reportedly raised “tens of millions” of renminbi in a pre-Series A+ financing round. The round was led by Woyong Fund. The proceeds will be used to accelerate the clinical development of core pipelines, marking a significant step in…
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MicroPort Endovascular Plans RMB 2.55 Billion Private Placement
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China-based Shanghai MicroPort Endovascular MedTech Co., Ltd (SHA: 688016) plans to raise up to RMB 2.55 billion (USD 378 million) via a private placement. The proceeds will be used to fund several strategic initiatives, including the development of its global headquarters and innovation and industrialization plan projects, research into peripheral…
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OcuMension’s Phase I Study for Dry Eye Treatment OT-202 Concludes
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Chinese ophthalmology specialist OcuMension Therapeutics (HKG: 1477) has announced the conclusion of a Phase I clinical study for its OT-202, a tyrosine kinase inhibitor (TKI) being developed to treat dry eye. This marks a significant step in the development of innovative treatments for this common condition. Study Design and ResultsThe…
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Eli Lilly Reports Q4 Financials with COVID-19 Impact and Market Performers
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Eli Lilly & Co. (NYSE: LLY) reported its Q4 2022 financials, revealing a 9% year-on-year (YOY) drop in global sales to USD 7.3 billion, primarily due to falling COVID-19 revenues and unfavorable exchange rates. Excluding COVID-19 antibodies, sales were up 10% YOY in constant currency terms. For the full year,…
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Virpax Pharmaceuticals Seeks China Licensing Partner for Non-Opioid Pain Drug Envelta
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US-based Virpax Pharmaceuticals Inc. (NASDAQ: VRPX) has announced the engagement of advisors to help search for a licensing partner for its non-opioid pain drug Envelta (NES100; enkephalin nasal formulation) in China. Virpax has appointed New England Investors as its out-licensing advisor to support the commercialization of Envelta, a treatment for…
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Novo Nordisk Posts Strong 2022 Results; GLP-1 Therapies Drive Growth
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Denmark-based diabetes giant Novo Nordisk (NYSE: NVO) has reported financial results for the fourth quarter and full-year 2022. The company enjoyed a robust year with sales increasing 16% year-on-year (YOY) in constant currency terms to DKK 177.0 billion (USD 26.21 billion). The growth was primarily driven by strong sales of…
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Antengene Launches Phase I CLINCH Study for ATG-022 in Australia
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China-based Antengene Corporation Ltd (HKG: 6996) has received approval from Australia’s Therapeutic Goods Administration (TGA) to commence the Phase I CLINCH study for its antibody-drug conjugate (ADC) ATG-022. The study targets advanced or metastatic solid tumors, with a focus on gastric cancer patients expressing Claudin 18.2. ATG-022: Mechanism and Preclinical…
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Henlius Begins Phase I Trial for Biosimilar HLX15 Targeting Multiple Myeloma
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Shanghai Henlius Biotech (HKG: 2696) has announced the dosing of the first subject in a Phase I clinical study for its biosimilar candidate HLX15, targeting Johnson & Johnson’s (J&J, NYSE: JNJ) blockbuster drug Darzalex (daratumumab). The study aims to evaluate the pharmacokinetics, safety, and immunogenicity of HLX15 in healthy male…
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NeuShen Therapeutics Partners with UMass Chan for ALS Gene Therapy Development
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Sino-US biotech firm NeuShen Therapeutics Inc., focused on central nervous system (CNS) disorders, has announced a three-year Sponsored Research Agreement with UMass Chan Medical School (UMass Chan) to develop gene therapy for amyotrophic lateral sclerosis (ALS), a rare and severe neurological disease. The collaboration aims to advance therapeutic solutions for…
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F-Star Therapeutics and Sino Biopharmaceutical Seek CFIUS Approval with Extended Deadline
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The acquisition of UK-based biologics firm F-Star Therapeutics (NASDAQ: FSTX) by China’s Sino Biopharmaceutical (HKG: 1177) may still secure approval from the Committee on Foreign Investment in the United States (CFIUS). According to a recent SEC filing, the companies have requested another extension to their deal deadline, now set for…
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Jiangsu Hengrui’s SHR8058 Accepted for Review by China’s NMPA for Dry Eye Disease
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China-based Jiangsu Hengrui Pharmaceuticals (SHA: 600276) has announced that its market filing for the drug candidate SHR8058 has been accepted for review by the National Medical Products Administration (NMPA). The targeted indication is dry eye disease associated with meibomian gland dysfunction. SHR8058: Mechanism and DevelopmentSHR8058 is NOV03 (perfluorohexyl octane), a…
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Nanjing-Based Frontier Biotechnologies Secures Full Approval for Albuvirtide in China
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Nanjing-based Frontier Biotechnologies Inc. has announced that its supplementary approval filing for albuvirtide, China’s first domestically developed innovative HIV therapy, has been fully approved by regulators. The approval upgrades the drug’s status from “conditionally” approved to fully approved for marketing. Albuvirtide: A First-of-Its-Kind HIV TherapyAlbuvirtide is described as the world’s…
