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Gilead’s 2023 Stagnation Foresees Flat 2024 Sales as Veklury Revenues Dwindle
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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…
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Amgen’s Q4 2023 Results Showcase 9% YOY Growth, 18 Drugs Hit Record Sales
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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…
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Eli Lilly’s 2023 Revenue Soars on Metabolism Drugs, Anticipates Further Growth in 2024
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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…
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Innovent Biologics Posts 65% YOY Growth in Q4 2023 with Over RMB 1.6 Billion in Sales
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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…
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Shanghai Procurement Platform Offers Price Cut Leeway to Escape ‘High-Priced Drugs’ Tag
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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…
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BioNTech and Duality’s DB-1305 Earns Fast-Track Status for Platinum-Resistant Cancers
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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…
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Novartis to Acquire MorphoSys for €2.7 Billion in Strategic Oncology Expansion
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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…
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Zhejiang Anglikang Enters R&D Cooperation Agreement with Affinity Biopharmaceutical
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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…
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MSD’s Keytruda Secures 13th Indication Approval in China for Biliary Carcinoma Treatment
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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…
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Konruns Pharmaceutical Commences Phase III Clinical Trial for KC1036 in Esophageal Cancer
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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…
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Abbisko Therapeutics Secures $70 Million Upfront Payment in Licensing Deal with Merck KGaA
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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…
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Johnson & Johnson’s Talquetamab and Daiichi Sankyo’s Enhertu Eye Priority Review in China
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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…
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AbbVie Reports $54.3 Billion in 2023 Revenues Amid Humira Erosion and Segment Variability
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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…
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Biotech Pharmaceutical Secures Approval for Nimotuzumab in Head and Neck Cancer Treatment
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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)…
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China Reports Over 4.8 Million New Cancer Cases in 2022 Amid Rising Incidence and Mortality Rates
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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…
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Sichuan’s Ancocare Gets FDA Green Light for Phase I/III Study of Oncolytic Virus in Neuroblastoma
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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…
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Roche Posts Modest 2023 Growth Amid Shifts in Demand for COVID-Related Products
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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…
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Merck KGaA’s Tepmetko Launches in China, Expanding Access to MET Inhibitor for Lung Cancer Patients
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Merck KGaA (NYSE: MRK), a leading German science and technology company, has announced the commercial launch of its targeted lung cancer therapy, Tepmetko (tepotinib), in China. This marks a significant milestone as multiple hospitals across the country have begun writing the first prescriptions for this MET inhibitor. Tepmetko, which has…
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Chia Tai Tianqing and Fudan University Shanghai Cancer Center Join Forces for Innovative Drug Development
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Chia Tai Tianqing, a China-based pharmaceutical company, has entered into a strategic partnership with Fudan University Shanghai Cancer Center to intensify their collaboration on clinical trials for innovative drugs. The agreement leverages Chia Tai Tianqing’s comprehensive industrial chain strength in scientific and technological innovation and the Shanghai Cancer Center’s leading…
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Shanghai Junshi Biosciences’ Toripalimab Aims for Singapore Approval in Nasopharyngeal Carcinoma
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Shanghai Junshi Biosciences Co., Ltd (HKG: 1877; SHA: 688180), a leading biopharmaceutical company based in China, has submitted market approval applications in Singapore for its programmed death-1 (PD-1) inhibitor, Loqtorzi (toripalimab). The drug is proposed for use as a first-line treatment for metastatic or recurrent locally advanced nasopharyngeal carcinoma (NPC)…
