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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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Medical Institutions Directed to Adhere to ‘Six Should Do’s’ and ‘Six Prohibited Behaviors’ for Academic Lectures
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Medical institutions have reportedly been circulated with a “Notice on Issuing Work Tips for Medical Personnel Paid for Academic Lectures,” which delineates “Six Should Do’s” and “Six Prohibited Behaviors” for professional engagement in academic activities. This guidance aims to standardize the conduct of medical staff participating in lectures, ensuring compliance…
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China Proposes Market-Oriented Pricing for Innovative Drugs to Boost High-Quality Development
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The National Healthcare Security Administration (NHSA) has unveiled a draft Notification on “Establishing a Price Formation Mechanism for Newly Listed Chemical Drugs to Encourage High-Quality Innovation.” The document, currently open for feedback from industry associations, outlines a proposed framework that aims to balance market determination of drug prices with government…
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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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Jiangsu Hengrui Receives NMPA Approval for Phase II Study of GLP-1 Agonist for Weight Loss
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Jiangsu Hengrui Medicine Co., Ltd (SHA: 600276), a leading pharmaceutical company in China, has announced that it has received approval from the National Medical Products Administration (NMPA) to proceed with a Phase II clinical study for its small molecule GLP-1 receptor agonist, HRS-7535, for weight loss treatment. This development marks…
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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…
