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9th National Volume-Based Procurement Round Results in 70% Price Reduction for 41 Drugs
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The results of the 9th round of China’s national volume-based procurement (VBP) program have been announced, with a total of 175 drug manufacturers securing tender spots for 41 different drug products. The tender for levonorgestrel did not yield successful bids. Out of the 269 separate tender spots secured, only 5…
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Qingdao’s Raise Care Secures Over RMB 100 Million in Series B Financing Led by CITIC Capital
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Qingdao-based Raise Care has reportedly secured upwards of RMB 100 million (USD 13.7 million) in a Series B financing round, according to recent reports. The round was led by CITIC Capital’s healthcare fund, with participation from CICC Capital, Jufeng S&T Venture Investment, and other investors. Company Background and FocusFounded in…
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Chengdu Kanghong Pharmaceutical’s KH629 Receives FDA Approval for NASH Clinical Trial
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Chengdu Kanghong Pharmaceutical Group Co., Ltd (SHE: 002773), a China-based pharmaceutical company, has announced that it has received clinical trial approval from the US Food and Drug Administration (FDA) for its Category 1 chemical drug, KH629, which is intended for the treatment of non-alcoholic steatohepatitis (NASH). KH629’s Profile and Previous…
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FibroGen Inc. Reports 155% YOY Sales Increase in Q3 2023 Financial Results
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US-based biotechnology company FibroGen Inc., (NASDAQ: FGEN) has reported its financial results for the third quarter of 2023, showcasing a significant year-on-year (YOY) increase in global sales. The company’s revenues rose by 155% to USD 40.1 million, reflecting the success of its anti-anemia drug for chronic kidney disease (CKD), Evrenzo…
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Gilead Sciences and Arcus Biosciences Announce Positive Phase II Data for Domvanalimab Combination Therapy
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Gilead Sciences (NASDAQ: GILD) and Arcus Biosciences (NYSE: RCUS) have this week released preliminary data from a Phase II study combining Gilead’s anti-TIGIT biologic domvanalimab with Arcus’ anti-PD-1 drug zimberelimab plus chemotherapy for the treatment of locally advanced unresectable or metastatic gastric, gastroesophageal junction, or esophageal adenocarcinoma. The study marks…
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Clover Biopharmaceuticals Submits Market Filing for Seasonal Influenza Vaccine in Brazil
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China-based Clover Biopharmaceuticals Ltd., (HKG: 2197) has announced the submission of a market filing for its seasonal influenza vaccine in Brazil. This move marks a strategic expansion for the company as it seeks to broaden the reach of its vaccine offerings. Product Details and AdvantagesThe product in question is a…
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WuXi XDC Aims for HKEX Listing with IPO of 178.4 Million Shares
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WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA, a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259), is preparing for an initial public offering (IPO) on the Hong Kong Stock Exchange. The company plans to issue 178.4 million shares, priced between HKD 19.9…
