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Burning Rock Upgrades 2022 Revenue Growth Forecast to 10% YOY
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Guangzhou-based medical device giant Burning Rock Ltd (NASDAQ: BNR) has issued a notice upgrading its guidance on expected revenue growth for 2022. The company now projects a 10% year-on-year (YOY) increase, up from the 5% announced in November last year. This upward revision is driven by a better-than-forecast performance in…
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HKEX 2022 Annual Report: IPO Activity Declines Amid Global Challenges
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The Hong Kong Exchanges and Clearing Ltd (HKEX) has released its annual report for 2022, highlighting a significant downturn in initial public offering (IPO) activity within the city. Overall, the number of new public listings fell by 29.6% year-on-year (YOY) to just 69 IPOs. In terms of capital raised, IPO…
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Sinovac Reports H1 2022 Financials Amid COVID-19 Vaccine Demand Decline
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China-based Sinovac Biotech Ltd (NASDAQ: SVA) has released its financial report for the first half of 2022, ending on June 30, 2022. The firm reported revenues of USD 1.2 billion, a significant drop from the USD 11.0 billion recorded in the same period a year earlier. Net income attributable to…
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Eli Lilly Ends License for Innovent’s Tyvyt Outside China
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Eli Lilly & Co’s (NYSE: LLY) Q3 2022 SEC filing released last month revealed that the US major has decided to end its license to develop the programmed death-1 (PD-1) inhibitor Tyvyt (sintilimab) in markets outside of China. In a single sentence, Lilly noted that the license deal signed with…
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Alibaba Health Reports 22.9% Revenue Growth in H1 2022
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China-based Alibaba Health Information Technology Ltd (HKG: 0241) has released its financial report for the first half of 2022 (ended September 30, 2022), recording total revenues of RMB 11.5 billion (USD 1.6 billion), representing a 22.9% year-on-year (YOY) increase. Business PerformanceAliHealth’s self-operated pharmaceutical direct sales business generated RMB 10.01 billion…
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CSPC Pharmaceutical Reports Q3 2022 Financials with 13.8% Revenue Growth
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China-based CSPC Pharmaceutical Group Ltd (HKG: 1093) has released its Q3 2022 financial results, reporting a 13.8% year-on-year (YOY) increase in revenues to RMB 23.496 billion (USD 2.87 billion). The growth was driven by increases across multiple business segments, including on-patent medicines, raw material products, and functional food. Revenue Breakdown…
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Lee’s Pharmaceutical Reports Q3 2022 Financials with 8.8% Revenue Growth
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China-based Lee’s Pharmaceutical Holdings Ltd (HKG: 0950) has released its Q3 2022 financial report, recording HKD 1.036 billion (USD 132.4 million) in revenues, up 8.8% year-on-year (YOY). The growth was driven by strong sales of Bredinin (mizoribine), treprostinil, and interferon α2b, which offset declines in some outpatient and surgical drugs.…
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BeiGene Reports 88% YOY Revenue Growth in Q3 2022
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China-based biotech BeiGene Inc. (HKG: 6160, SHA: 688235, NASDAQ: BGNE) released its Q3 2022 earnings report, showing robust growth with revenues reaching USD 387.6 million, an 88% year-on-year (YOY) expansion. Sales from products totaled USD 349.5 million during the period, up 82% YOY, driven primarily by Brukinsa (zanubrutinib) and the…
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Novo Nordisk Reports 16% YOY Growth in Q3, Raises Full-Year Guidance
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Denmark-based biopharma Novo Nordisk A/S (NYSE: NVO) has released its Q3 2022 earnings report. The company reported a 16% year-on-year (YOY) growth in constant exchange rates (CER) to DKK 128.9 billion (USD 17.3 billion) over the 9-month period. Sales for the three-month Q3 period were up 15% (CER) to DKK…
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Organon’s Q3 Results Show Women’s Health Segment Outperforms Amid Global Revenue Decline
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US-based Organon & Co. (NYSE: OGN), a firm with a strong focus on women’s health that split from Merck, Sharp & Dohme (MSD, NYSE: MRK) in mid-2021, released its Q3 2022 financial results. Total global revenues were down 4% year-on-year (YOY) in real terms to USD 1.537 billion, but up…
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Sanofi’s Q3 Sales Rise 9% on Dupixent and Flu Vaccine
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French pharmaceutical major Sanofi (NASDAQ: SNY) released its Q3 2022 financial report, recording EUR 12.482 billion (USD 12.394 billion) in global net sales, up 9% year-on-year (YOY) in constant exchange rates. The growth was driven by strong performances from Dupixent (dupilumab) and its flu vaccine. Within the total sales, the…
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Junshi Biosciences Reports 55% Drop in Q3 Revenues
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Shanghai-based biotech Junshi Biosciences (HKG: 1877) released its financial report for the third quarter of 2022, showing revenues over the nine months down 55.18% year-on-year (YOY) to RMB 1.218 billion (USD 167.2 million). The decline was primarily due to decreasing technology licensing income, which could not be offset by increasing…
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RemeGen Reports 397.47% YOY Revenue Growth in Q3 2022
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China-based pharma firm RemeGen (HKG: 9995) released its Q3 2022 financial report, showing significant growth in revenues and research and development (R&D) spending. During the first three months of the year, the company generated RMB 570 million (USD 78.6 million) in revenues, up 397.47% year-on-year (YOY). It spent RMB 663…
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Shanghai Pharmaceuticals Reports 12.86% YOY Revenue Growth in Q3 2022
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Shanghai Pharmaceuticals (HKG: 2607, SHA: 601607) released its Q3 2022 financial report, recording RMB 62.904 billion (USD 8.7 billion) in revenues during the three months, up 12.86% year-on-year (YOY). The growth was driven by strong performances in both the pharmaceutical industry and pharmaceutical commerce sectors. Sector PerformanceThe “pharmaceutical industry” and…
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Merck’s Q3 Sales Rise on Key Drug Performances, China Growth
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US-based Merck, Sharp & Dohme Inc. (MSD, NYSE: MRK) reported its Q3 2022 financial results, with sales reaching USD 45.45 billion over the first nine months, marking a 32% year-on-year (YOY) growth excluding exchange rate impact. For the three months of Q3, the company generated USD 14.96 billion in sales,…
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Ping An Life Insurance Reports Q3 Results, Advances Healthcare Strategy
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Ping An Life Insurance Company of China Ltd released its 2022 Q3 financial report, showing a 6.3% year-on-year (YOY) decrease in net profits to RMB 76.46 billion (USD 10.59 billion). The decline was attributed to the short-term impact of pandemic disruptions and a volatile capital market. However, the company’s operational…
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Novartis Q3 Revenues Rise 4% YOY; China Sales Expand Despite COVID Lockdowns
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Swiss pharmaceutical giant Novartis (NYSE: NVS) has reported a 4% year-on-year (YOY) increase in global revenues for the third quarter of 2022, reaching USD 12.54 billion in constant currency terms. However, in dollar terms, sales were down 4% YOY. The growth was driven by both the Innovative Medicines (IM) and…
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Huadong Medicine Reports 10.4% Revenue Growth in Q3 2022
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Huadong Medicine Co., Ltd (SHE: 000963) has published its Q3 2022 financial report, revealing robust growth. The Chinese firm generated RMB 9.66 billion (USD 1.3 billion) in revenues during the period, marking a 10.4% year-on-year (YOY) increase. Net profits for the quarter were RMB 630 million (USD 86.7 million), up…
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Roche Reports Q3 Sales Growth, Hit by COVID-19 Product Decline
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Swiss pharmaceutical giant Roche (SWX: ROG) released its Q3 2022 financial report last week, showing group sales up 2% year-on-year (YOY) at constant exchange rates (CER) during the 9-month period to CHF 47.0 billion (USD 46.8 billion). The growth rates for Q1, Q2, and Q3 were +11%, +0%, and -6%…
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Abbott Reports Q3 Sales Growth, Raises Full-Year EPS Guidance
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With the Q3 2022 reporting season underway, US-based medtech giant Abbott (NYSE: ABT) released its financials, showing sales of USD 10.4 billion, up 1.3% excluding foreign exchange impact. The performance was ahead of expectations, leading the company to raise its full-year guidance for earnings per share (EPS). Business Unit PerformanceBy…
