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China-based Haisco Pharmaceutical Group Co., Ltd (SHE: 002653) is set to make another public offering of 40 million shares, priced at RMB 20 (USD 2.95) per share, to the Shenzhen Stock Exchange. This move aims to raise significant capital for the company’s ongoing drug development initiatives. Use of ProceedsThe proceeds…
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Shanghai BDgene Technology Co., Ltd has announced that a clinical trial filing for its BD111, a CRISPR-Cas9 in vivo-based therapy for herpes simplex virus (HSV)-related keratitis (HSK), has been accepted for review by the Center for Drug Evaluation (CDE). This marks a significant step forward in the development of innovative…
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Sichuan’s provincial Healthcare Security Administration bureau has notified that Shanghai JunTop Biosciences Co., Ltd’s COVID-19 therapy Mindewei (deuremidevir) is to be initially quoted at RMB 795 (USD 117.23) per treatment course. This pricing announcement marks the entry of Mindewei into the market, offering a new treatment option for mild to…
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Shanghai-based Ji Xing Pharmaceuticals, backed by RTW Investments, has announced a deal to obtain global rights to US firm PhaseBio Pharmaceuticals Inc.’s pre-clinical drug candidate PB6440. This strategic partnership aims to advance the development of a next-generation aldosterone synthetase inhibitor (ASi) with significant potential in treating cardiovascular, renal, and metabolic…
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China-based Mabwell (Shanghai) Bioscience Co., Ltd (SHA: 688062) has announced that a clinical trial filing for its novel antibody-drug conjugate (ADC) 9MW2921 has been accepted for review by the National Medical Products Administration (NMPA). The firm is seeking to assess the ADC as a treatment for general solid tumors, marking…
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US major Amgen (NASDAQ: AMGN) has released its Q4 and full-year 2022 financials. Global sales were up 3% year-on-year (YOY) to USD 26.3 billion, excluding foreign exchange impacts. In Q4, sales were relatively flat at 2%, reaching USD 6.8 billion. This performance reflects Amgen’s continued strength in key therapeutic areas…
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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 (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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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. (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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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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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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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 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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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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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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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 & 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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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…