•
China Medical System Holdings Ltd (CMS, HKG: 0867) has announced that it has received clinical trial approval from the National Medical Products Administration (NMPA) for two of its drug candidates: CMS-D001 and CMS-D002. CMS-D001 is a highly selective TYK2 (tyrosine kinase 2) inhibitor aimed at treating immune inflammatory diseases, including…
•
Yantai Dongcheng Pharmaceutical Group Co., Ltd. (SHE: 002675) has announced its acquisition of all rights to alfatide II across all diagnostic and therapeutic fields and indications. Alfatide II, initially developed by Dr. Chen Xiaoyuan and previously licensed to Jiangsu Xinrui Pharmaceutical Co., Ltd. for further development, is currently in the…
•
Gilead Sciences Inc. (NASDAQ: GILD) has reported a stagnant performance for the year 2023, with total product sales remaining unchanged at USD 26.9 billion. Amid a broad decline in demand for COVID-19 treatments, the company’s antiviral Veklury (remdesivir) sales could not offset the downturn, although HIV sales increased by 6%…
•
Gilead Sciences (NASDAQ: GILD) has reported a stagnant performance for 2023, with product sales remaining flat at USD 26.9 billion. The company’s financials were affected by a widespread downturn in demand for COVID-19 treatments, as its antiviral Veklury (remdesivir) sales offset growth in other areas. HIV sales reached USD 18.2…
•
Biopharmaceutical giant Amgen (NASDAQ: AMGN) has reported its financial results for Q4 2023, announcing annual sales of USD 26.9 billion, reflecting a substantial 9% year-on-year (YOY) increase, primarily driven by volume growth. In an earnings call, CEO Robert Bradway highlighted that a remarkable 18 of the company’s medicines achieved record…
•
Eli Lilly and Company (NYSE: LLY) reported a robust 2023 financial performance with a 20% year-on-year (YOY) increase in revenue, reaching USD 34.1 billion, as detailed in their Q4 2023 report released this week. This growth was substantially driven by the company’s metabolism drugs, indicating a recovery from the COVID-19…
•
Chinese biopharmaceutical company Innovent Biologics Inc., (HKG: 1801) has reported impressive quarterly sales figures, announcing over RMB 1.6 billion (USD 219 million) in product sales for Q4 2023, marking a 65% year-on-year (YOY) increase. In the final quarter of the year, Innovent’s PD-1 inhibitor, Tyvyt (sintilimab injection), maintained strong market…
•
Shanghai’s Sunshine Medical Procurement All-in-One (SMPA) platform has announced a significant policy shift regarding non-winning bids in the 9th round of volume-based procurement (VBP). The notification suggests that drugs which did not secure a winning bid and are eligible for online procurement in Shanghai may be exempted from the “high-priced…
•
German biotechnology company BioNTech SE (NASDAQ: BNTC) and its partner Duality Biologics (Suzhou) Co., Ltd have received fast-track designation from the U.S. Food and Drug Administration for their jointly developed drug candidate DB-1305/BNT325. This designation is in recognition of the drug’s potential to treat platinum-resistant epithelial ovarian cancer, fallopian tube…
•
Switzerland-based Novartis (NYSE: NVS) has announced a voluntary public takeover offer to acquire Germany-based biopharmaceutical firm MorphoSys (FSE: MOR; NASDAQ: MOR) for €2.7 billion. The transaction is anticipated to finalize in the first half of 2024, pending the fulfillment of customary conditions. By acquiring MorphoSys, Novartis aims to incorporate two…
•
China-based Zhejiang Anglikang Pharmaceutical Co., Ltd. (SHE: 002940) has entered into a research and development (R&D) collaboration and licensing agreement with fellow domestic entity Affinity Biopharmaceutical Co., Ltd. Under the terms of the agreement, Affinity grants Anglikang exclusive rights for R&D, manufacturing, and commercialization of QHL-1618, a fully water-soluble small-molecule…
•
Merck, Sharp & Dohme (MSD; NYSE: MRK), a leading US pharmaceutical company, has announced that its drug Keytruda (pembrolizumab) has received approval from the National Medical Products Administration (NMPA) in China for a new indication. The drug is now approved as a first-line treatment for locally advanced or metastatic biliary…
•
Konruns Pharmaceutical Co., Ltd (SHA: 603590), a Beijing-based pharmaceutical company, has announced the first patient dosing in a Phase III clinical study for its drug candidate KC1036, which is aimed at treating patients with advanced recurrent or metastatic esophageal squamous cell carcinoma (ESCC). This marks a significant milestone in the…
•
Shanghai-based biotechnology firm Abbisko Therapeutics Co., Ltd (HKG: 2256) has declared the successful conclusion of the initial phase of a licensing agreement with Merck KGaA, concerning its proprietary colony stimulating factor-1 receptor (CSF-1R) inhibitor, pimicotinib (ABSK021). As part of this agreement, Abbisko has received an upfront payment of USD 70…
•
The Center for Drug Evaluation (CDE) website has indicated that Johnson & Johnson (J&J, NYSE: JNJ)’s Talvey (talquetamab) and Daiichi Sankyo’s Enhertu (trastuzumab deruxtecan) are on track to receive priority review statuses. Talquetamab, a bispecific GPRC5D-directed CD3 T-cell engager, is in development for the treatment of adult patients with recurrent/refractory…
•
AbbVie (NYSE: ABBV) reported revenues of $54.3 billion for 2023, reflecting a 5.9% year-on-year decline at constant currency rates, as the company grapples with the erosion of its flagship immunosuppressant, Humira (adalimumab). While the neuroscience and aesthetics segments showed resilience with revenue increases of 18.5% and 0.9%, generating $7.7 billion…
•
Sino-Cuban joint venture Biotech Pharmaceutical Limited (BPL) has secured another indication approval in China for its biologic drug nimotuzumab, now authorized for the treatment of locally advanced head and neck squamous cell carcinoma (HNCC). Nimotuzumab, an EGFR monoclonal antibody (mAb), previously received marketing approvals in China for nasopharyngeal carcinoma (NPC)…
•
China’s National Cancer Center (NCC) has released the latest national cancer statistics, approved by the National Health Commission (NHC). The data, calculated in collaboration with the International Agency for Research on Cancer (IARC), aligns with the GLOBOCAN 2022 report. In 2022, China reported 4,824,700 new cancer cases, with a standard…
•
Sichuan-based Flavivirus technology platform developer Ancocare has announced that it has received approval from the US Food and Drug Administration (FDA) to conduct a Phase I/III clinical study for its double spear type I oncolytic virus DS1-H2-1 in neuroblastoma. The product, which leverages the Flavivirus technology platform, is a positive…
•
Swiss pharmaceutical giant Roche (SWX: ROG) has published its 2023 financial results, showing a modest 1% year-on-year (YOY) increase in global sales at constant exchange rates (CER) to CHF 58.7 billion (USD 68.5 billion). This growth was primarily due to a 6% YOY expansion in the pharmaceutical business to CHF…