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Biogen Reports Q3 2024 Sales Dip, Raises Full-Year Guidance
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US biotechnology company Biogen Inc. (NASDAQ: BIIB) reported global sales of USD 2.466 billion for the third quarter of 2024, marking a 3% year-on-year (YOY) decrease in operational terms. Despite this, Biogen increased its full-year 2024 financial guidance, with non-GAAP diluted EPS now expected to range between USD 16.10 and…
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Tasly Pharmaceuticals Gets FDA Approval for Acute Ischemic Stroke Cell Therapy Clinical Study
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China-based Tasly Pharmaceuticals (SHA: 600535) has announced that it has received approval from the US Food and Drug Administration (FDA) to conduct a clinical study for its investigational therapy, NR-20201. This allogeneic adipose-derived mesenchymal stem cell therapy is in development for the treatment of acute ischemic stroke. Preclinical study results…
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HutchMed to Receive $20 Million Milestone Payment from Takeda for Fruzaqla Sales
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China-based HutchMed (China) Ltd (NASDAQ: HCM; HKG: 0013) is poised to receive a USD 20 million milestone payment from its Japanese partner Takeda (TYO: 4502; NYSE: TAK), following the achievement of over USD 200 million in sales of Fruzaqla (fruquintinib) for metastatic colorectal cancer (CRC). Fruquintinib, a selective oral inhibitor…
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Zhejiang Huahai Pharmaceutical Gets New Zealand Approval for Asthma Bispecific Antibody Trial
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Zhejiang Huahai Pharmaceutical Co., Ltd (SHA: 600521) has announced receiving clinical trial approval in New Zealand for its HB0056, a bispecific antibody (BsAb) targeting thymic stromal lymphopoietin (TSLP) and interleukin-11 (IL-11), clearing the way for the drug to enter Phase I clinical studies for asthma treatment. HB0056 is the world’s…
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Youcare Pharmaceutical Group Gets NMPA Approval for YKYY015 Phase I Study
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China-based Youcare Pharmaceutical Group (SHA: 688658) has announced that it has received approval from the National Medical Products Administration (NMPA) to initiate a Phase I clinical study for its investigational drug YKYY015, targeting primary hypercholesterolemia or mixed hyperlipidemia characterized by elevated LDL-C levels. YKYY015, an siRNA drug, is distinctive for…
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Innovent Biologics Reports Q3 2024 Sales Exceeding RMB 2.3 Billion, Up 40% YOY
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China-based Innovent Biologics Inc., (HKG: 1801) has announced product sales exceeding RMB 2.3 billion (USD 323 million) for the third quarter of 2024, marking a 40% year-on-year (YOY) increase. The company’s competitive edge in China is attributed to its product indication expansion, extensive coverage on the National Reimbursement Drug List,…
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CStone Pharmaceuticals’ Sugemalimab Wins UK Approval for NSCLC Treatment
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China-based CStone Pharmaceuticals (HKG: 2616) has received marketing approval from the UK Medicines and Healthcare products Regulatory Agency (MHRA) for sugemalimab, in combination with platinum-based chemotherapy, as a first-line treatment for adult patients with metastatic non-small cell lung cancer (NSCLC) without EGFR-sensitive mutations or ALK, ROS1, RET genomic alterations. This…
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Dizal Pharmaceutical’s Q3 2024 Revenues Soar 236% YOY on Strong Product Sales
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China-based Dizal Pharmaceutical Co., Ltd (SHA: 688192) has released its financial report for the third quarter of 2024, announcing revenues of RMB 135 million (USD 18.94 million) for the quarter, marking a 236.39% year-on-year (YOY) increase. Revenues for the first three quarters reached RMB 338 million (USD 47.43 million), reflecting…
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Amgen Reports Q3 2024 Revenues of USD 8.5 Billion, Marking a 23% YOY Increase
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US biotechnology company Amgen (NASDAQ: AMGN) has announced its financial results for the third quarter of 2024, with revenues reaching USD 8.5 billion, an increase of 23% year-on-year (YOY). Product sales saw a 24% increase, with an 8% growth when excluding sales from the Horizon Therapeutics (Horizon) acquisition. In the…
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HOB Biotech Group and Sino Biopharmaceutical Ltd Form Strategic Partnership in Allergy Treatments
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Jiangsu-based HOB Biotech Group Corp., Ltd (SHA: 688656) has announced a strategic cooperation agreement with Sino Biopharmaceutical Ltd (HKG: 1177), along with controlling shareholder HOB Biotech Group Limited and John Li, chairman and general manager of HOB. The collaboration aims to explore and cooperate in the research and development, production,…
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Sandoz Q3 2024 Sales Boosted by Biosimilars and Generics, Up 12% YOY
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Switzerland-based Sandoz (SWX: SDZ) has published its financial statements for the third quarter of 2024, reporting sales of USD 2.6 billion, reflecting a 12% year-on-year (YOY) increase in constant currency terms. Chemical generics contributed USD 1.854 billion in sales, marking a 4% YOY increase, while biosimilars saw a significant surge…
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Junshi Biosciences Reports Q3 2024 Financials with Revenue Growth and Narrowed Losses
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Junshi Biosciences (HKG: 1877; SHA: 688180) has released its financial results for the third quarter of 2024, reporting revenues of RMB 1.271 billion (USD 178.36 million) for the first three quarters, marking a 28.87% year-on-year (YOY) increase, and a net loss of RMB 927 million (USD 130 million). The third…
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Chipsscreen Biosciences and Zhejiang Hisun Pharmaceutical End Strategic Partnership for Chiglitazar Launch
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China-based Chipscreen Biosciences Co., Ltd (SHA: 688321) has reached an agreement with Zhejiang Hisun Pharmaceutical Co., Ltd (SHA: 600267) to terminate their strategic partnership, which was initially formed in December 2020 to support the launch of the hypoglycemic drug chiglitazar (Bilessglu) for type 2 diabetes in 19 provinces, including Henan,…
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Eli Lilly Reports 20% YOY Revenue Growth in Q3 2024 Driven by Mounjaro and Zepbound
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US pharmaceutical giant Eli Lilly and Company (NYSE: LLY) has reported its financial results for the third quarter of 2024, with total revenues increasing by 20% year-on-year (YOY) to USD 11.439 billion. The growth was propelled by volume increases from Mounjaro and Zepbound, as well as higher realized prices. In…
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AstraZeneca China President Leon Wang Involved in Chinese Investigation Amid Industry Probes
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Leon Wang, Executive Vice President International and AstraZeneca (AZ, NASDAQ: AZN) China President, is cooperating with an investigation by Chinese authorities, as stated by the UK pharmaceutical major. During this period, AstraZeneca China General Manager Lai Minglong will ensure business continuity. This development follows a series of media reports about…
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AbbVie’s Allergan Aesthetics Launches Juvéderm VOLUX in China
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Allergan Aesthetics, a subsidiary of AbbVie (NYSE: ABBV), has announced the official market launch of its Juvéderm VOLUX dermal filler product in China. Juvéderm VOLUX is a hyaluronic acid-based product specifically designed for contouring the lower jaw area. It is used for injection onto the facial periosteum to enhance the…
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Jiangsu Yuyue Medical Equipment Partners with TÜV SUD to Boost Medical Device Market Access
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Jiangsu Yuyue Medical Equipment Inc., (SHE: 002223), a Chinese medical equipment manufacturer, has entered into a strategic partnership with Germany’s TÜV SUD, one of the world’s largest technical inspection institutions. The collaboration aims to enhance their cooperation in the medical device market access and quality system. With over two decades…
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GSK Reports Mixed Q3 2024 Results with 2% YOY Revenue Growth
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UK pharmaceutical giant GlaxoSmithKline (GSK; NYSE: GSK) has released its financial report for the third quarter of 2024, showing a modest 2% year-on-year (YOY) increase in revenue to GBP 8 billion (USD 10.496 billion) at constant exchange rates. The quarter’s performance was propelled by a 19% surge in the Specialty…
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Allmed Medical Products to Establish Wholly Owned Subsidiary in Indonesia
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China-based Allmed Medical Products Co., Ltd (SHE: 002950) has announced plans to establish a wholly owned subsidiary in Indonesia with a registered capital of USD 50 million. The new entity, provisionally named PT Ace Medical Products Indonesia, will concentrate on the research and development, manufacturing, and sales of medical products…
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Sichuan Kelun-Biotech’s Sacituzumab Tirumotecan Files for New Indication with China’s NMPA
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Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd (HKG: 6990) has announced that the National Medical Products Administration (NMPA) in China has accepted for review another indication approval filing for its sacituzumab tirumotecan (SKB264/MK-2870). The new indication is for the treatment of locally advanced or metastatic EGFR mutant non-small cell lung cancer (NSCLC)…
