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Kobayashi Pharmaceutical Faces Expanding Scandal Over Contaminated Red Yeast Rice Supplements
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Kobayashi Pharmaceutical, based in Japan, is facing a deepening scandal over contaminated red yeast rice health supplements, branded as Benji-koji Choleste Help. By the end of last week, the situation had escalated to include 5 patient deaths and 100 hospitalizations linked to the consumption of the cholesterol-lowering supplement, with hundreds…
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Beijing’s Changping District and State-owned Capital Firm Launch RMB 20 Billion Healthcare Fund
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The Changping district of Beijing municipality has reached an agreement with Beijing State-owned Capital Operation and Management Co., Ltd to establish a medical and healthcare industry fund worth RMB 20 billion (USD 2.77 billion). This Beijing-based fund will focus on pivotal sectors including innovative drugs, innovative medical devices, and emerging…
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Abiomed Recalls Over 66,000 Impella Heart Pumps Due to Serious Injury Risk, FDA Classifies as Class I Event
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Johnson & Johnson (J&J, NYSE: JNJ), already embroiled in lawsuits over alleged cancer risks associated with its talcum powder products, faces a new product safety scandal. The company’s medical device subsidiary, Abiomed, has initiated a recall of over 66,000 Impella left-sided heart pumps due to a risk of heart perforation…
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Shanghai Junshi Biosciences Reports 3.38% YOY Revenue Growth in 2023 Financials
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Shanghai Junshi Biosciences Co., Ltd (HKG: 1877; SHA: 688180), a leading biopharmaceutical company based in China, has announced its financial results for 2023. The company reported revenues of RMB 1.503 billion (USD 208 million), an increase of 3.38% year-on-year (YOY), primarily driven by sales of its commercialized products. During the…
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Shenzhen Hepalink Reports 2023 Revenue Dip Amid Sector Demand Declines
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Shenzhen Hepalink Pharmaceutical Group Co., Ltd (SHE: 002399), a leading pharmaceutical company based in China, has released its financial report for 2023. The company reported revenues of RMB 5.431 billion (USD 751 million), marking a decline of 24.1% year-on-year (YOY). Profits for the year reached RMB 802 million (USD 110.9…
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InnoCare Pharma Reports 2023 Revenue Growth and Pipeline Expansion
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InnoCare Pharma (HKG: 9969; SHA: 688428), a Beijing-based biotech company, has released its financial report for 2023, recording RMB 739 million (USD 102.2 million) in revenues and RMB 672 million (USD 92.9 million) in product sales, marking increases of 18.09% and 18.5% year-on-year (YOY), respectively. The company’s research and development…
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Bristol Myers Squibb’s Zeposia Fails to Meet Primary Endpoint in Crohn’s Disease Trial
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Bristol Myers Squibb (BMS; NYSE: BMY) has announced that a Phase III study for its S1P receptor modulator Zeposia (ozanimod) in patients with moderate-to-severe active Crohn’s disease (CD) did not meet its primary endpoint of clinical remission at week 12. The trial’s outcome means that Zeposia joins a number of…
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Regenxbio Reports Stable Visual Acuity Improvements with AbbVie’s Gene Therapy in Wet AMD Trial
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Regenxbio (NASDAQ: RGNX), the development partner for AbbVie’s (NYSE: ABBV) gene therapy ABBV-RGX-314, has announced results from a Phase I/IIa trial focused on wet age-related macular degeneration (wAMD). This announcement complements the preliminary results shared earlier in the year. The 2-year data from the trial indicate that a single administration…
