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Innovent Biologics Withdraws Parsaclisib Filing in China, Halts Development
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Innovent Biologics Inc., a leading China-based biotech company (HKG: 1801), has announced the voluntary withdrawal of its market approval filing for the drug candidate parsaclisib in China. Furthermore, the company has decided to halt all further development of the molecule, as stated in their press release. Background on Parsaclisib and…
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Jiangsu Hengrui Licenses Pyrotinib to Dr. Reddy’s for Indian Market
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China-based Jiangsu Hengrui Medicine Co., Ltd (SHA: 600276) has entered into a licensing agreement with India-headquartered Dr. Reddy’s Laboratories, granting the latter exclusive development and commercialization rights for its HER1/HER2/HER4 inhibitor, pyrotinib, in India. Financial Terms of the Agreement Under the terms of the agreement, Hengrui will receive an upfront…
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Beijing Joins Jiangxi’s Interferon Volume-Based Procurement Initiative
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The Beijing Municipal Medical Insurance Bureau has announced its participation in the Jiangxi-led interferon inter-provincial alliance volume-based procurement (VBP) tender. Medical institutions are required to submit their demand volumes from September 27 to October 16. The tender includes a total of 15 drug varieties across 95 different specifications, shortlisted from…
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Sanofi Enters Collaboration with Teva for IBD Drug TEV’574 Development
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Sanofi (NASDAQ: SNY) has entered into a collaboration agreement with Teva (NYSE: TEVA) for the joint development and commercialization of Teva’s Phase II drug candidate, TEV’574, targeting inflammatory bowel diseases (IBD). This investigational molecule is designed as a potential best-in-class anti-TL1A therapy aimed at treating ulcerative colitis (UC) and Crohn’s…
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AstraZeneca Reports Positive Phase III Results for Forxiga in Children with Type 2 Diabetes
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UK-based AstraZeneca (AZ, NASDAQ: AZN) has announced promising results from the Phase III T2NOW study (NCT03199053) for its diabetes medication, Forxiga (dapagliflozin), in adolescents and children aged 10 to 17 with type 2 diabetes (T2D). Enrolling 256 patients, this study stands as one of the largest investigations into type 2…
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Sandoz Becomes Independent After Spin-Off from Novartis
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Switzerland-based generic and biosimilar drug maker Sandoz (SWX: SDZ) officially became a fully independent company last week, completing its separation from Novartis (NYSE: NVS) as previously announced. The decision to spin off Sandoz was first presented in 2022, aimed at establishing a global leader in generics and biosimilars while allowing…
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Eli Lilly Acquires Point Biopharma to Enhance Oncology Portfolio
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Eli Lilly (NYSE: LLY) announced last week its agreement to acquire radiopharmaceutical company Point Biopharma (NASDAQ: PNT) in a strategic move to bolster its oncology portfolio with several pre-clinical and clinical radioligand candidates. The acquisition, valued at USD 1.4 billion, will involve Lilly purchasing all outstanding shares of Point through…
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Sanofi’s Nexviazyme Approved in China as Enzyme Replacement Therapy for Pompe Disease
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Sanofi’s (NASDAQ: SNY) next-generation enzyme replacement therapy (ERT), Nexviazyme (avalglucosidase alfa), has received marketing approval from the National Medical Products Administration (NMPA) as a long-term treatment for Pompe disease. This marks Sanofi’s second drug approved for Pompe disease in China, following the approval of Myozyme (alglucosidase alfa) in October 2015.…
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