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US Allows Science and Technology Agreement with China to Expire, Pointing to Deepening R&D Competition
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The US-China Science and Technology Agreement (STA), a pivotal accord initially inked in 1979 by Chinese leader Deng Xiaoping and U.S. President Jimmy Carter, has reached its sunset with the Washington government allowing it to expire on August 27, 2024. This followed two sequential 6-month extensions in August 2023 and…
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Novartis Builds Two Radioligand Therapy Facilities in U.S. to Expand Cancer Treatment Capabilities
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Novartis AG (NYSE: NVS), a Swiss pharmaceutical giant listed on the NYSE under the ticker NVS, has commenced construction on two cutting-edge radioligand therapy (RLT) manufacturing facilities in the United States. The first initiative involves an expansion of the company’s current operations in Indianapolis, which will facilitate in-house production of…
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Jiangsu Suzhou Launches $843 Million Biomedicine Fund to Boost Pharma and Medical Device Innovation
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The Jiangsu Suzhou Biomedicine Industry Special Fund of Fund (FoF), a colossal pharmaceutical investment vehicle with a capitalization of RMB 6 billion (USD 843 million), debuted last week. This 15-year financial instrument is designed to target and catalyze growth in innovative drugs, medical R&D, medical devices, healthcare services, and synthetic…
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Sage Group Expands into China’s Healthcare Market with Cenponts Healthcare Partnership
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Sage Group, a UK-based financial advisory powerhouse, has announced a strategic foray into China’s burgeoning healthcare market through a partnership with Shenzhen’s Cenponts Healthcare, a boutique investment bank with a global outlook. This alliance is set to bridge the gap, offering financial advisory services to Chinese life sciences firms aspiring…
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Hanx Biopharmaceuticals Receives NMPA Approval for HX009 Combination Therapy Phase II Trial
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On September 5, 2024, China-based Hanx Biopharmaceuticals Co., Ltd announced that it has received approval from the National Medical Products Administration (NMPA) for the Phase II clinical trial of its investigational drug HX009 in combination therapy for biliary tract cancer (BTC). The application met the relevant requirements for drug registration,…
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E-commerce and Physical Stores to Stock Hanmi’s OTC Drugs Following Shanghai Pharma Deal
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Hanmi Pharmaceutical, a leading South Korean pharmaceutical company, has reportedly entered into a supply agreement with Shanghai Pharma Health Science, a subsidiary of Shanghai Pharmaceutical Group (SHA: 601607). The contract covers the distribution of seven OTC medications, which are planned to be initially marketed through Shanghai Pharma’s e-commerce platform, prior…
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Aspen Pharmacare’s 2024 Fiscal Report Shows Mixed Results Amid China’s VBP Impact
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Aspen Pharmacare Holdings Ltd (JSE: APN), a leading South African pharmaceutical company, has reported its financial results for the fiscal year ending June 30, 2024. The company saw a 5% year-on-year (YOY) increase in revenues in constant currency terms, reaching ZAR 44.7 billion (USD 2.5 billion). However, EBITDA profits experienced…
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European Commission Approves Merck’s Keytruda-Padcev Combo for First-Line Urothelial Carcinoma Treatment
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Merck & Co., Inc. (NYSE: MRK), a global healthcare leader based in the United States, has announced that the European Commission (EC) has granted approval for the use of Keytruda (pembrolizumab) in combination with Padcev (enfortumab vedotin) as a first-line treatment for adults with unresectable or metastatic urothelial carcinoma. This…
