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BioMarin to Cut 225 Jobs Amid Challenges in Gene Therapy Commercialization
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US-based BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) is navigating a challenging period marked by difficulties in commercializing its gene therapies. In a recent SEC filing, the company announced plans to reduce its workforce by 225 employees as part of its “organizational redesign efforts.” The restructuring is tied to BioMarin’s revised commercial…
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MicroPort CardioFlow to Acquire RMB 380 Million Shanghai Assets for Global HQ Expansion
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China-based MicroPort Scientific Corp. (HKG: 0853) has announced that its spin-off, MicroPort CardioFlow Medtech Co., Ltd (HKG: 2160), will acquire a 100% stake in Shanghai Heart Forever Medical Technology Co., Ltd. The acquisition, valued at up to RMB 380 million, will be executed through a transfer from its sister company,…
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Tonghua Golden-Horse, UCB Seek China Approvals for Alzheimer’s, Myasthenia Gravis Drugs
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China’s Tonghua Golden-Horse Pharmaceutical Industry Co. Ltd. and Belgium-based UCB (FRA: UNC) are seeking marketing approvals in China for two advanced treatments targeting neurodegenerative and autoimmune conditions, according to the Center for Drug Evaluation (CDE) website. Tonghua Golden-Horse’s octohydroaminoacridine succinate, designed to treat mild to moderate Alzheimer’s disease (AD), and…
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Dizal Pharmaceutical’s Financial Turnaround Continues with 33% Net Loss Reduction in H1 2024
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Dizal Pharmaceutical Co., Ltd, a pharmaceutical entity listed in Shanghai (SHA: 688192), has unveiled its financial report for the first half of 2024, showcasing a revenue of RMB 204 million. This substantial growth is attributed to the rapid adoption of sunvozertinib, a cutting-edge epidermal growth factor receptor (EGFR) inhibitor, which…
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Doma Biopharmaceutical Receives FDA Clearance for Phase I Trial of EGFR-MET Targeting ADC, DM005
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Doma Biopharmaceutical (Suzhou) Co., Ltd, a Chinese pharmaceutical firm, has received approval from the U.S. Food and Drug Administration (FDA) to initiate a Phase I clinical trial for its innovative bispecific antibody-drug conjugate (ADC), DM005. This development marks a significant milestone for the company as it advances its pipeline towards…
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Jiyuan Biotechnology’s Stem Cell Therapy for Type 2 Diabetes Gains NMPA Tacit Approval for Clinical Trials
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BEIJING—Jiyuan Biotechnology, a leading Chinese biopharmaceutical company, has secured tacit clinical trial approval from the National Medical Products Administration (NMPA) for its cutting-edge therapy targeting type 2 diabetes. This marks the first clinical trial approval in China for domestically developed gene-modified mesenchymal stem cells. The therapy in question involves the…
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AstraZeneca Boosts Investment in Qingdao Aerosol Production Hub to $750 Million
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QINGDAO—AstraZeneca (NASDAQ: AZN), a leading UK-based pharmaceutical company, has announced a further investment in its Qingdao National High-tech Industrial Development Zone facility, dedicated to the production and supply of inhalation aerosols. The undisclosed additional funding follows an initial investment made in March 2023, bringing the total commitment to USD 750…
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NMPA Suspends Jeisys Medical Inc.’s Nd:YAG Laser Equipment Over Quality Concerns
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BEIJING—The National Medical Products Administration (NMPA) of China has issued a notification to immediately suspend the import, operation, and use of Nd:YAG laser surgery equipment manufactured by South Korea-based Jeisys Medical Inc. The decision comes in the wake of a remote non-site inspection, which revealed critical deficiencies in the company’s…
