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Baidu Health Partners with Souyao to Boost Offline Pharmacy Services in China
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Baidu Health has entered into a partnership with Beijing-based pharmaceutical business service provider Souyao. The collaboration will capitalize on Baidu’s resource advantages in areas such as search engines, map navigation, health services, artificial intelligence (AI), and e-commerce to offer comprehensive technical and operational services for brick-and-mortar pharmacies. The goal is…
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AbbVie Reports $54.3 Billion in 2023 Revenues Amid Humira Erosion and Segment Variability
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AbbVie (NYSE: ABBV) reported revenues of $54.3 billion for 2023, reflecting a 5.9% year-on-year decline at constant currency rates, as the company grapples with the erosion of its flagship immunosuppressant, Humira (adalimumab). While the neuroscience and aesthetics segments showed resilience with revenue increases of 18.5% and 0.9%, generating $7.7 billion…
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US Senate Puts Brakes on Bill Targeting China-Based CDMOs Amid Stock Market Reactions
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A US Congress bill aimed at prohibiting US-funded entities from engaging with various China-based contract development and manufacturing organizations (CDMOs) has reportedly been sidelined by the Senate this week. The bipartisan legislation, which previously triggered a significant decline in stock prices for companies like WuXi AppTec (HKG: 2359, SHA: 603259),…
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Biotech Pharmaceutical Secures Approval for Nimotuzumab in Head and Neck Cancer Treatment
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Sino-Cuban joint venture Biotech Pharmaceutical Limited (BPL) has secured another indication approval in China for its biologic drug nimotuzumab, now authorized for the treatment of locally advanced head and neck squamous cell carcinoma (HNCC). Nimotuzumab, an EGFR monoclonal antibody (mAb), previously received marketing approvals in China for nasopharyngeal carcinoma (NPC)…
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BMS Sees Mixed Results in 2023: Growth in New Products Offset by Loss of Exclusivity
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Bristol Myers Squibb (BMS; NYSE: BMY) reported a 2% year-on-year contraction in 2023 revenues, excluding foreign exchange effects, totaling $45.0 billion, according to its recently released financial report. The company’s global sales were bolstered by a 4% increase in in-line products, generating $34.3 billion, and a remarkable 76% surge in…
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China Reports Over 4.8 Million New Cancer Cases in 2022 Amid Rising Incidence and Mortality Rates
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China’s National Cancer Center (NCC) has released the latest national cancer statistics, approved by the National Health Commission (NHC). The data, calculated in collaboration with the International Agency for Research on Cancer (IARC), aligns with the GLOBOCAN 2022 report. In 2022, China reported 4,824,700 new cancer cases, with a standard…
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Johnson & Johnson’s Kenvue Partners with Tencent for Integrated Health Services in China
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Johnson & Johnson (J&J, NYSE: JNJ)’s consumer health spinoff Kenvue and its Chinese partner Tencent have announced an updated strategic partnership aimed at accelerating digital transformation in the healthcare sector. The collaboration will focus on the joint development of integrated online and offline health education and service solutions for patients…
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Chongqing Genrix Bio Pharmaceutical Gets NMPA Clearance for IL-4Rα mAb Candidate GR1802
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Chongqing Genrix Bio Pharmaceutical Co., Ltd (SHA: 688443), a Chinese biopharmaceutical company, has announced that it has received clinical trial clearance from the National Medical Products Administration (NMPA) for its investigational drug candidate GR1802, an interleukin-4 receptor α (IL-4Rα) monoclonal antibody (mAb). The drug is intended to be assessed as…
