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Shanghai Administration Imposes Hefty Fine on H&S Pharmaceutical for Substandard Drugs
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The Shanghai Municipal Medical Products Administration has disclosed that Hengshan (H&S) Pharmaceutical is under scrutiny for the alleged manufacture of substandard medications. The company faces not only the seizure of the non-compliant drugs but also a financial penalty. H&S Pharmaceutical has been charged RMB 295,753.58 for the illicit proceeds derived…
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Shanghai Junshi Biosciences Forecasts 6.02% Revenue Growth in 2023 Driven by Commercialized Products
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Shanghai Junshi Biosciences Co., Ltd (HKG: 1877; SHA: 688180), a biopharmaceutical company based in China, has released its financial forecast for 2023. The company anticipates generating RMB 1.541 billion in revenues, marking a 6.02% year-on-year (YOY) increase. Junshi Biosciences’ research and development expenses for the period are estimated at RMB…
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Regeneron Pharmaceuticals Acquires 2seventy Bio to Boost Cell Therapy Capabilities
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Regeneron Pharmaceuticals (NASDAQ: REGN) has announced the acquisition of U.S. biotechnology company 2seventy Bio Inc. (NASDAQ: TSVT), securing all development and commercialization rights to the latter’s drug discovery platform, clinical manufacturing platform, and investigational innovative cell therapies. In conjunction with this acquisition, Regeneron will establish a new unit, Regeneron Cell…
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Hunan Province Hospitals Commit to Implementing Nationally Negotiated Drugs in Policy Seminar
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A policy seminar under the auspices of the Hunan Healthcare Security Administration bureau convened in Changsha, the capital of Hunan province, with the objective of ensuring the implementation of newly nationally negotiated drugs included in the National Reimbursement Drug List (NRDL). The event resulted in a consensus among hospital leaders…
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Pfizer Reports USD 58.5 Billion in Revenues Amid Post-Pandemic Sales Shifts and Oncology Pipeline Expansion
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Pfizer Inc. (NYSE: PFE) has reported a significant downturn in global revenues for the week, amounting to USD 58.5 billion, following a 41% year-on-year (YOY) decrease in operational terms. This substantial drop reflects the diminishing sales of the SARS-CoV-2 vaccine Comirnaty and the antiviral treatment Paxlovid. The reported figures align…
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Astellas Forges Partnership with Mass General Brigham to Boost Oncology and Rare Disease Research
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Astellas Pharma Inc. (TYO: 4503), a leading Japanese pharmaceutical company, has announced a strategic partnership with Mass General Brigham, a prominent academic institution in the United States. This collaboration aims to drive scientific and clinical advancements in critical areas, including oncology, rare diseases, and cell and gene therapy. Astellas will…
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Shanghai CureGene Pharmaceutical Secures USD 14 Million in Series B Financing to Advance Cardiovascular Treatments
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Shanghai CureGene Pharmaceutical Co., Ltd, a Chinese biopharmaceutical company, has announced the successful completion of a Series B financing round, raising RMB 100 million (USD 14 million). The financing was led by Tailong Capital, with additional investments from Elikon Venture and TigerYeah Capital, as well as participation from existing investors…
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Ping An Good Doctor Partners with Vcanbio to Pioneer Cell Health Management Services in China
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Ping An Healthcare and Technology Co., Ltd (HKG: 1833), commonly referred to as PingAn Good Doctor, has entered into a strategic partnership with Vcanbio Cell & Gene Engineering Corp., Ltd (SHA: 600645), another Chinese firm. The collaboration aims to combine the business acumen and technical prowess of both companies to…
