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Novartis Reports Positive Phase III Results for Remibrutinib in Chronic Spontaneous Urticaria
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Swiss pharmaceutical giant Novartis AG (NYSE: NVS) has announced positive data from the Phase III trials for remibrutinib, an oral Bruton’s tyrosine kinase (BTK) inhibitor, which is under development to treat chronic spontaneous urticaria (CSU). The Phase III REMIX-1 and REMIX-2 studies successfully met all primary and secondary endpoints, showing…
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Burning Rock Partners with AstraZeneca to Develop Companion Diagnostics for Cancer Therapies
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Guangzhou-based medical device giant Burning Rock (NASDAQ: BNR) has announced a strategic partnership with AstraZeneca (AZ, NASDAQ: AZN). The collaboration will utilize Burning Rock’s world-leading testing technology and high-quality, standardized testing capacities to develop and commercialize companion diagnostics (CDx) products for AstraZeneca’s breast cancer and prostate cancer therapies. Financial details…
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Audit Reveals Illicit Payments and Inflated Prices in Pharmaceutical Industry
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An audit has shed light on the use of third-party business promotion companies as a core method for illicit payments within the pharmaceutical sector. From 2021 to May 2023, three provincial pharmaceutical companies paid fees to 1,936 third-party business promotion companies, generating fake service fees and names to withdraw funds…
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Eli Lilly & Co. Reports 28% YOY Revenue Increase in Q2 2023 Financials
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US pharmaceutical giant Eli Lilly & Co., (NYSE: LLY) has released its financial results for the second quarter of 2023, revealing a robust 28% year-on-year (YOY) growth in revenues to USD 8.31 billion. This performance has surpassed expectations, prompting the company to upgrade its guidance for full-year revenues and profits.…
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FibroGen’s Evrenzo Achieves Record Sales in China, Outlook for 2024 Remains Promising
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US-based biopharmaceutical company FibroGen Inc., (NASDAQ: FGEN) has released its financial report for the second quarter of 2023, featuring record new highs for sales of the first-in-class HIF prolyl-hydroxylase inhibitor, Evrenzo (roxadustat), in China. Total net sales of Evrenzo in China, including through a joint venture with AstraZeneca, reached USD…
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Bayer AG Reports Q2/H1 2023 Financials with Challenges in Crop Science and Pharmaceuticals
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Germany-based multinational Bayer AG (ETR: BAYN) has released its financial report for the second quarter and first half of 2023, which indicates the group is facing difficulties due to the performance of its crop science and pharmaceutical business units. The China market, in particular, has been identified as a significant…
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Novo Nordisk’s Wegovy Demonstrates 20% Reduction in Cardiovascular Events in SELECT Trial
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Denmark-based pharmaceutical giant Novo Nordisk A/S (NYSE: NVO) has released topline data supporting the use of its anti-obesity drug Wegovy (semaglutide). The data originates from the SELECT cardiovascular outcomes trial, which enrolled an extensive cohort of 17,604 adults suffering from obesity and established cardiovascular disease (CVD), but without diabetes. This…
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Shanghai Health Commission Issues Regulations to Curb Unhealthy Pharmaceutical Practices
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In alignment with the [2023] No. 75 Document by the National Health Commission, the Shanghai Municipal Health Commission has released a set of regulations aimed at correcting unhealthy practices in the field of pharmaceutical purchasing and sales and medical services within the city for the year 2023. The document mandates…
