Genscript Bio Gets Booster from Subsidiary’s New Cancer Drug

The company’s Legend Biotech unit has found recent success with Carvykti, a chimeric antigen receptor T-cell (CAR-T) therapy, which earned $134 million in its first nine months on the market Key Takeaways: By Emily Chan The good news is coming thick and fast these days for Genscript Biotech Corp. (1548.HK). In early January, it disclosed that China’s National Medical Products Administration (NMPA) accepted its new drug application (NDA) for Cilta-cel , a chimeric antigen receptor T-cell (CAR-T) therapy being developed by its Legend Biotech (LEGN.US) subsidiary. Last Wednesday, it announced…

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Structure Therapeutics Hopes to Wow Investors With Cutting-Edge Drug Tech

The maker of G-protein-coupled receptor (GPCR) drugs will raise more than $100 million in its IPO this week, making it the first major U.S. listing by a Chinese company this year Key Takeaways: By Doug Young The march of new Chinese IPOs in New York continues this week with Structure Therapeutics Inc., which will become the biggest new listing from this group in more than a year with its trading debut set for later this week under the symbol GPCR. The symbol refers to the G-protein-coupled receptor (GPCR) treatments at…

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Sihuan Pharma’s Botox Beauty Bid Suffers Covid Wrinkle

The cardiovascular and cancer drug maker’s recent shift to the medical beauty business was doing well at first, but struggled last year Key Takeaways: By Molly Wen China’s relentless drive to make drugs more affordable through centralized buying and other policy moves is pushing generic drug makers, whose products already carry famously thin margins, in different directions to ensure their future viability. Some leaders like Hengrui Medicine (600276.SH) and Chia Tai Tianqing Pharmaceutical are investing heavily in development of their own drugs, while others like CSPC Pharmaceutical (1093.HK) are licensing…

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Chinese Companies Raise Big Bucks in New York, Hong Kong

Eight U.S.- and Hong Kong-listed Chinese companies have collectively raised more than $2 billion this month, mostly through new share issues Key Takeaways: By Doug Young Long-suffering U.S.- and Hong Kong-listed Chinese companies are taking advantage of recent positive sentiment to raise billions of dollars, bringing new meaning to the old adage “make hay while the sun shines.” This month alone, the group has raised more than $2 billion in at least eight deals, led by a $580 million fundraising by data center operator GDS (GDS.US; 9698.HK).   The amount…

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Charged by Surgical Robot’s Approval, Shenzhen Edge Medical Makes New IPO Bid

The medical device maker filed a second time for a Hong Kong IPO after updating its prospectus with the recent approval of its first surgical robot Key Takeaways: By Ellie Si Shenzhen Edge Medical Co. Ltd. hopes the second try will be the charm for its bid to list in Hong Kong, this time armed with a major new product approval. Eight months after its first IPO attempt, the surgical robot maker filed an updated prospectus last week revealing the regulatory nod for a key product that will bring the…

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Riding Covid Vaccine Highs, CanSino Plans Swiss Listing

The first vaccine stock to be listed in the both Mainland China and Hong Kong will issue global depositary receipts (GDRs) in Switzerland Key Takeaways: By Molly Wen After becoming China’s first vaccine maker to list in both Hong Kong and Shanghai, CanSino Biologics Inc. (6185.HK; 688185.SH) is looking to spread its wings beyond its Asian home. It announced its new flight plan last Tuesday, aiming to go public on the SIX Swiss Exchange using global depositary receipts, becoming the first Chinese GDR issue in 2023. CanSino said details of…

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Lu DaoPei Medical Seeks IPO Cash for Pricey Hospital Plans

Lu DaoPei Medical, named after an expert in stem cell transplants who founded the company, has filed to list on the Hong Kong Stock Exchange   Key Takeaways: By Emily Chan A chain of hospitals specializing in stem cell transplants has filed the first IPO application of the year on the Hong Kong Stock Exchange, banking on the clinical credentials of its founder Lu Daopei to attract funds for expansion. The brains behind Lu DaoPei Medical Group Holding Ltd. has been active in hematology research since 1957. Lu helped to…

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After Ditching Promising Drug, Everest Medicines Bets on mRNA

The drug maker surprised investors last year when it halted its tie-up with Gilead to develop the breast cancer drug Trodelvy. Now it says it will focus on mRNA vaccines Key Takeaways: By Ken Lo Late last month, an mRNA vaccine production facility in Zhejiang province’s Jiashan county quietly launched operations. While the event may have gone largely unnoticed, the facility’s 900 million yuan ($130 million) price tag represents the biggest investment for Everest Medicines Ltd. (1952.HK) since the company’s surprise decision last year to abandon Trodelvy, an antibody-drug conjugate…

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Is Fosun Set to Rise Again as China Reopens?

The debt-heavy conglomerate announced a fresh $1 billion in asset sales last week, as growing signs emerge that its looming debt crisis of 2022 may be receding Key Takeaways: By Chen Ruzhen On the last evening of 2022, Guo Guangchang, chairman of conglomerate Fosun International Ltd. (0656.HK), visited a lantern festival at Yu Garden, the famous Shanghai tourist attraction operated by one of his company’s units. The rags-to-riches billionaire made New Year’s wishes that life would return to normal in China, and that Fosun’s global partners could visit a country…

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