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Merck & Co. Posts 22% YOY Sales Growth; Keytruda and Gardasil Drive Revenues
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Merck & Co. (NYSE: MRK) has released its Q4 and full-year 2022 financial report, showcasing a robust performance with 22% year-on-year (YOY) growth in annual global sales to USD 59.3 billion. Excluding sales of COVID-19 therapy Lagevrio (molnupiravir) and foreign exchange impacts, growth was 15%. However, Q4 performance saw a…
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Takeda Posts Strong Q3 Results, Announces Pipeline Advances in Oncology and Rare Diseases
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Japan-based pharmaceutical giant Takeda (TYO: 4502, NYSE: TAK) has announced its financial results for the third quarter of the fiscal year 2022, ending December 31, 2022. The company reported a 13.9% year-on-year (YOY) increase in global revenues to JPY 3,071 billion (USD 23.882 billion). Core revenues, excluding currency exchange impacts,…
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GenScript’s CAR-T Therapy Carvykti Achieves $55M in Sales, Awaits China Approval
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China-based Contract Research Organization (CRO) GenScript Biotech Corporation (HKG: 1548) has announced that sales of its subsidiary company Legend Biotech Corporation’s (NASDAQ: LEGN) BCMA-directed chimeric antigen receptor T cell (CAR-T) therapy, Carvykti (ciltacabtagene autoleucel), reached USD 55 million as of December 31, 2022. This figure, yet to be independently audited,…
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Zhejiang Gongdong to Acquire Trademark Plastics for Overseas Expansion
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China-based Zhejiang Gongdong Medical Technology Co., Ltd is set to acquire core assets of US firm Trademark Plastics, Inc. for USD 42 million. This strategic move aims to enhance the company’s overseas manufacturing capabilities and achieve synergies through complementary product portfolios. Acquisition DetailsFounded in 1989, Trademark Plastics, Inc. (TPI) specializes…
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Innovent Biologics Posts Strong Q4 Revenues Amid COVID-19 Challenges
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Innovent Biologics Inc. (HKG: 1801) announced product revenues of RMB 1 billion (USD 148.2 million) during Q4 2022. Despite COVID-19 disruptions impacting sales, the company managed to offset these challenges with strong performances from new products and its anti-tumor drug Cyramza (ramucirumab), which was launched during the period. Innovent expects…
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Shanghai Weimu Medical Raises Pre-Series A+ Funding for Clinical Development
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China-based high-end interventional device maker Shanghai Weimu Medical Technology Co., Ltd has reportedly raised “tens of millions” of renminbi in a pre-Series A+ financing round. The round was led by Woyong Fund. The proceeds will be used to accelerate the clinical development of core pipelines, marking a significant step in…
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MicroPort Endovascular Plans RMB 2.55 Billion Private Placement
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China-based Shanghai MicroPort Endovascular MedTech Co., Ltd (SHA: 688016) plans to raise up to RMB 2.55 billion (USD 378 million) via a private placement. The proceeds will be used to fund several strategic initiatives, including the development of its global headquarters and innovation and industrialization plan projects, research into peripheral…
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OcuMension’s Phase I Study for Dry Eye Treatment OT-202 Concludes
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Chinese ophthalmology specialist OcuMension Therapeutics (HKG: 1477) has announced the conclusion of a Phase I clinical study for its OT-202, a tyrosine kinase inhibitor (TKI) being developed to treat dry eye. This marks a significant step in the development of innovative treatments for this common condition. Study Design and ResultsThe…
