Early JW Therapeutics Backer Ruins Regulatory Breakthrough Party With Stake Sale

The Chinese cancer drug maker’s shares surged on news of approval for its core product, only to return to earth after early investor Temasek exited Key takeaways: •      Less than two weeks after JW Therapeutics received regulatory approval to commercialize its core product in China, key early investor Temasek sold all of its stake •      JW Therapeutics’ stock now trades nearly 30% below its IPO price, as numerous obstacles remain in the march to commercialize its cutting-edge cancer treatment By Warren Yang It seems a major breakthrough for JW (Cayman)…

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Everest Joins Race to Make mRNA Covid Vaccines for China

Company’s move comes as Beijing shows growing signs of approving the new type of high-tech vaccination Key takeaways: Everest will pay up to $150 million or more to potentially bring an mRNA vaccine being developed by Canada’s Providence Therapeutics to China Deal comes as Beijing appears increasingly receptive to mRNA vaccines, even though Providence’s jabs have yet to be approved in its home Canada market By Richard Barbarossa China may still be without a Covid-19 vaccine based on messenger RNA (mRNA) technology, generally considered the most effective for preventing infections.…

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Solid Earnings, Modest Buyback Fail to Boost Drug Seller 111 Inc.

Profitability is now in focus at online drug company, as it seeks to breathe life into its shares that are down 10% this year Key takeaways: 111’s revenue grew 87% in second quarter, generally outpacing its peers, as it aims to more than double its fulfillment capacity this year Company’s shares now trade around $6.50, well off a $23 high reached in February, as investors worry about regulatory wave for broader tech sector By Mia Shanley With massive revenue growth and market share gains in the bag, online drug seller…

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Regulatory Wrinkles Spoil So-Young’s Latest Results

Despite posting solid second-quarter growth, cosmetic surgery platform spends much of its earnings call trying to ease investor concerns over a regulatory crackdown Key takeaways: So-Young International devotes much of its second-quarter results trying to ease investor concerns over a potential crackdown on China’s cosmetic surgery industry Company’s revenue rises 37% and profit jumps sharply in latest quarter as business rebounds from year-ago pandemic-induced slowdown By Doug Young The superficial story in the latest results for plastic surgery platform operator So-Young International Inc. (SY.US) was strong growth for top-line revenue…

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Viva Biotech Revenues Surge on Move Into Contract Drug Manufacturing

Two key acquisitions last fall helped fuel fivefold rise in first-half revenue, as company swung back into profitability Key Takeaways: Viva Biotech’s fivefold jump in first-half revenues and move back to profitability come on the back of its acquisition last year of two contract drug makers Company’s shift to contract drug making comes as global pharma firms shift focus to drug development By Richard Barbarossa A couple of recent acquisitions are proving strong tonic for Viva Biotech Holdings (1873.HK), a globally-focused Chinese provider of third-party pharmaceutical services for other drug…

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FAST NEWS: Regional Eye Care Provider Chaoju’s Profit Doubles in First Half of 2021

The latest: Private clinic and hospital operator Chaoju Eye Care Holdings Ltd. (2219.HK) said its revenue rose 56.6% year-on-year to 500 million yuan ($77.3 million) in the first half of 2021, while its profit doubled to 78.7 million yuan, according to its maiden earnings report following its July IPO. Looking Up: Chaoju posted especially strong gains in its consumer ophthalmic services, which rose 86% to become its biggest revenue source in the first half of the year, accounting for 53.3% of total revenue. Basic ophthalmic services were previously its biggest…

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New Horizon’s Sales Surge as China Promotes Early Cancer Detection

Company’s first-mover advantage in at-home colorectal screening and China’s focus on early detection have turbocharged sales, though valuation remains frothy Key takeaways: New Horizon’s first-half revenues jumped more than fourfold, assisted by government early cancer testing drive Stock volatility could owe to frothy valuation, as well as unclear timeline for profitability By Richard Barbaroza New Horizon Health Ltd. (6606.HK), a Chinese maker of self-administered tests for colorectal cancer, has reported a more than fourfold increase in revenue in the first half of 2021, buoyed by the government’s recent campaign for…

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Newly Merged dMed-Clinipace Turns Up Heat in China’s Booming CRO Market

Company’s new $50 million funding is the first since its April merger, as competition grows among nation’s contract research organizations (CROs)   Key points: dMed-Clinipace’s raises $50 million in the first funding since its merger to form a CRO specialist with global presence Eased regulations have fueled an influx of money and spate of M&A in China’s increasingly competitive landscape By Richard Barbarossa Fresh off the April merger that created a major new Sino-U.S. clinical oncology contract research organization (CRO), dMed-Clinipace has embarked on a new round of fundraising as…

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Kintor Pharma Gets Mega-Booster from Experimental Covid-19 Drug

Company posted major milestone last week with the first emergency use authorization for its drug Proxalutamide to treat the coronavirus in Paraguay Key points:  Kintor Pharma’s Proxalutamide could become a blockbuster drug if it receives emergency use approval in the U.S. as a treatment for Covid-19 The company’s stock has jumped sevenfold this year, outpacing even the most bullish analyst targets By Alice Leung It’s relatively rare to see a stock trade higher than analysts’ targets, since such people tend to be quite bullish on the companies they follow. But…

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Everest Medicines Ties With Tencent to Scale Last Mile to Patient Care

Back-to-back deals with Tencent and Medbanks Health seek to build new distributing partnerships ahead of expected first drug approvals Key points: Everest Medicines could gain valuable distribution channels through its new partnerships with Tencent and Medbanks Both new partners have users bases on ‘closed-loop’ healthcare platforms providing everything from checkups to drug sales By Richard Barbarossa What do cutting-edge cancer drugs and social media have in common? Not much, really. But that unlikely pairing is bringing together cancer and autoimmune disorder drug startup Everest Medicines Ltd. (1952.HK) and leading social…

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