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China’s Q1 2024 Pharma Trade Registers 6.3% Growth Amid Global Recovery
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The China Chamber of Commerce for Import and Export of Medicines and Health Products (CCCMHPIE) has released its report on China’s health product trade for the first quarter of 2024, showing a 6.3% year-on-year (YOY) increase in global pharmaceutical trade, reaching USD 46.944 billion. Imports grew by 11.21% YOY to…
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Dizal Pharmaceutical’s Sunvozertinib Logs RMB 91.29 Million in Sales Following EGFR Inhibitor Approval
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Dizal Pharmaceutical Co., Ltd (SHA: 688192), a spin-off from AstraZeneca China, has announced that its next-generation epidermal growth factor receptor (EGFR) inhibitor, sunvozertinib, which received approval in August 2023 for the treatment of EGFR Exon20ins mutated non-small cell lung cancer in China, has achieved sales of RMB 91.29 million (USD…
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WuXi AppTec’s Q1 2024 Revenues Affected by COVID-19 Project Exclusion
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China’s leading Contract Research Organization (CRO), WuXi AppTec (HKG: 2359, SHA: 603259), has announced its financial results for the first quarter of 2024, with revenues reaching RMB 7.98 billion (USD 1.1 billion), marking a slight decrease of 1.8% year-on-year (YOY), excluding COVID-19 commercialization projects. The company’s original customer income stood…
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EOC Pharma’s Entinostat Secures Chinese Approval for Breast Cancer Treatment
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US-China biotech firm EOC Pharma has received market approval from China’s National Medical Products Administration (NMPA) for its entinostat, an oral histone deacetylase (HDAC) inhibitor, for the treatment of locally advanced or metastatic breast cancer in patients with hormone receptor (HR) positive and human epidermal growth factor receptor-2 (HER2) negative…
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Bristol-Myers Squibb Prepares Contingency Plans in Response to the Biosecure Act
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Bristol-Myers Squibb (BMS; NYSE: BMY), a leading U.S. pharmaceutical company, is reportedly drafting ‘contingency plans’ to address the potential implications of the Biosecure Act, which is currently under legislative review in the United States. As detailed by the Financial Times, BMS’s CFO, David Elkins, disclosed on a media call that…
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Daiichi Sankyo Reports 25.3% Revenue Growth in FY2023, Boosted by Enhertu and Lixiana Sales
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Japanese pharmaceutical company Daiichi Sankyo has reported a remarkable fiscal year 2023, with revenues increasing by 25.3% to ¥1.602 trillion (USD 10.05 billion) for the 12-month period ended March 31, 2024. The growth was primarily driven by the success of its HER2-targeted antibody drug conjugate (ADC) Enhertu (trastuzumab deruxtecan) and…
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China’s National Drug Alliance Procurement Office Announces Insulin VBP Re-Tender Results
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The National Drug Alliance Procurement Office in China has published the winning results of the continued tender for insulin volume-based procurement (VBP), with 14 insulin products securing the available slots. Notably, protamine recombinant human insulin mixed injection (30/70) and insulin detemir, which were part of the previous round, did not…
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RemeGen’s Q1 2024 Revenues Surge 96.41% YOY, R&D Spending Outpaces Income
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China-based pharmaceutical company RemeGen (HKG: 9995) has reported its financial results for the first quarter of 2024, with revenues reaching RMB 330 million (USD 45.54 million) for the three-month period, marking a significant increase of 96.41% year-on-year (YOY). However, the company recorded net losses of RMB 349 million (USD 48.2…
