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Viatris Inc. Reports Q3 2023 Global Net Sales Growth of 1% and Highlights from Earnings Call
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US-based generics giant Viatris Inc., (NASDAQ: VTRS) has released its financial results for the third quarter of 2023. The company reported global net sales of USD 3.93 billion, marking a 1% year-on-year (YOY) increase in constant currency terms. Geographical Sales BreakdownViatris Inc.’s sales performance varied by region. Developed and Emerging…
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Abbisko Therapeutics’ CD73 Inhibitor ABSK051 Clears for Phase I Clinical Trial in China
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Shanghai-based biotech Abbisko Therapeutics Co., Ltd (HKG: 2256) has announced that it has received approval from the National Medical Products Administration (NMPA) to initiate a Phase I clinical study for its next-generation CD73 inhibitor, ABSK051, in China. This first-in-human (FIH), multi-center, open-label study will evaluate the safety, tolerability, pharmacokinetics/pharmacodynamics (PK/PD),…
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US FDA Approves HutchMed and Takeda’s Fruzaqla for Metastatic Colorectal Cancer Treatment
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The US Food and Drug Administration (FDA) has granted approval to HutchMed (NASDAQ: HCM) and its partner Takeda (NYSE: TAK, TYO: 4502) for their oral tyrosine kinase inhibitor Fruzaqla (fruquintinib), marking the second approval this year for a China-developed innovative drug. The drug is indicated for adult patients with previously…
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Suzhou Porton Biologics Partners with BioMap to Enhance AAV Vector Design in Gene Therapy
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Suzhou Porton Biologics Ltd, a China-based Contract Development and Manufacturing Organization (CDMO), has entered into a strategic partnership with US biotech company BioMap, an AI-based drug discovery platform co-founded by Baidu’s CEO Robin Li and Baidu Ventures CEO Wei Liu. This collaboration aims to develop an AAV assembly efficiency model…
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CIIE 2023: Danaher, Boehringer-Ingelheim, Merck, J&J, BeiGene, and Fosun Pharma Announce China Partnerships
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The 6th China International Import Expo (CIIE) held in Shanghai this week has been a platform for multiple companies to announce their strategic partnerships in China. Among the notable participants are Danaher (NYSE: DHR), Boehringer-Ingelheim (BI), Merck Sharp & Dohme (MSD, NYSE: MRK), Johnson & Johnson (J&J, NYSE: JNJ), BeiGene…
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Zymeworks and BeiGene Terminate Licensing Agreement for ZW49 ADC
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Zymeworks Inc. (NASDAQ: ZYME), a Canada-based biotech company, has announced in its Q3 financial report that the licensing agreement with China’s BeiGene Ltd (NASDAQ: BGNE; HKG: 6160; SHA: 688235) for the antibody drug conjugate (ADC) zanidatamab zovodotin (ZW49) has been cancelled. This development affects the HER2-targeted ADC that BeiGene had…
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Worg Pharmaceuticals Expands into Spain with Acquisition of Diater for EUR 150 Million
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Worg Pharmaceuticals, a Hangzhou-based developer of allergic drugs, has formally entered the Spanish market by obtaining the necessary regulatory approval and completing the acquisition of local biopharmaceutical company Diater from fund manager Nazca Capital for approximately EUR 150 million (USD 160 million). This strategic move marks a significant expansion for…
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Janssen’s Nipocalimab Shows Promising Results in Phase II Rheumatoid Arthritis Trial
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The Janssen unit of Johnson & Johnson (J&J; NYSE: JNJ) has announced the results of a Phase II trial for nipocalimab, a potential best-in-class anti-neonatal Fc (FcRn) biologic, in patients with moderate-to-severe active rheumatoid arthritis (RA) who have anti-citrullinated protein antibodies (ACPAs) or rheumatoid factor (RF) and are unresponsive to…
