FAST NEWS: C-Mer Eye Care’s Chairman Boosts Holdings

The latest: C-Mer Eye Care Holdings Ltd. (3309.HK) announced on Friday its Chairman Dr. Dennis Lam purchased 1.45 million of the company’s shares, representing approximately 0.095% of its issued share capital, on the open market for five consecutive days through Sept. 30 at a cost of approximately HK$5.08 million ($650,000). Looking up: Lam and his spouse increased their stake in the company to 55.27%, and he stated he is confident about the group’s prospects and business. Take Note: The company’s share price recently hit a four-year low, which may have…

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FAST NEWS: Simcere Pharmaceutical Grants Overseas Rights for Drug Candidate

The latest: Simcere Pharmaceutical Group Ltd. (2096.HK) announced Thursday that it granted Almirall S.A. exclusive rights to develop and commercialize its autoimmune drug candidate SIM0278 outside of Greater China. Looking up: Simcere will receive a $15 million upfront payment and up to another $492 million in development and commercialization milestone payments based on the success of Alirall’s efforts to develop SIM0278 outside China. Take Note: SIM0278 is only a drug candidate and that must still undergo clinical trials, meaning it is still a long way from being commercialized. Digging Deeper: Founded in…

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FAST NEWS: Zai Lab Acquires Exclusive Greater China License for Cervical Cancer Drug

The latest: Biotech drug maker Zai Lab Ltd. (9688.HK; ZLAB.US) announced on Tuesday that one of its subsidiaries has obtained an exclusive license to develop and commercialize Seagen Inc.’s (SGEN.US) cervical cancer drug Tivdak in mainland China, Hong Kong, Macau and Taiwan for an upfront payment and sales milestone considerations totaling up to $293 million. Looking up: China currently has about 110,000 new cervical cancer cases every year, providing a large pool of potential customers for Tivdak, which has already been approved for sale in the U.S. Take Note: According to clinical…

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FAST NEWS: WuXi Biologics Announces $300 Million Share Buyback

The latest: Contract drugs services provider WuXi Biologics (Cayman) Inc. (2269.HK) announced on Monday its board of directors has approved a plan to buy back up to $300 million of the company’s shares in the open market. Looking up: The company believes the proposed buyback and subsequent cancellation of repurchased shares will enhance the value of remaining shares, thereby improving shareholder returns. The buyback will also reduce a potentially dilutive effect on the company’s shareholdings from various employee equity incentive schemes. Take Note: WuXi Biologics’ cash and cash equivalents were valued…

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FAST NEWS: BeiGene’s Lymphoma Drug Recommended to Enter European Regulator

The latest: BeiGene Ltd. (BGNE.US; 6160.HK; 668235.SH) announced Monday that its Zanubrutinib drug has received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA), which recommended approval for the drug to treat adults with marginal zone lymphoma. Looking up: Following the positive opinion, the European Commission will consider BeiGene’s marketing application, with a final decision expected within 67 days. If approved for marketing, the drug is expected to enter the world’s largest market with 29 member countries. Take Note: Marginal zone…

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FAST NEWS: Everest Medicines Hits New Low after New CEO Announcement

The latest: Innovative drug maker Everest Medicines Ltd. (1952.HK) on Monday announced the appointment of Luo Yongqing, formerly president and general manager of Greater China for Brii Biosciences Ltd. (2137.HK), as its new CEO effective immediately. Looking up: Luo worked for two years at Brii Biosciences, and before that was global vice president and general manager of China for U.S. pharma company Gilead (GILD.US), where he helped build the company’s China business. During his time at Gilead he led the clinical development, registration approval and successful launch of eight innovative…

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FAST NEWS: CanSino’s Inhaled Covid Booster Gets China Green Light

The latest: CanSino Biologics Inc. (6185.HK; 688185.SH) announced on Sunday that China’s National Medical Products Administration (NMPA) have given emergency use authorization for its inhaled recombinant Covid-19 vaccine for use as a booster vaccine. Looking up: CanSino says the vaccine not only stimulated humoral and cellular immunity, but also induced mucosal immunity to achieve triple comprehensive protection against Covid-19 without an injection. The inhaled vaccine also has unique advantages of painlessness and convenience. Take Note: The company said that although the vaccine was authorized for emergency use, it will still face…

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FAST NEWS: Investment Loss Undermines Simcere Pharma’s Profit

The latest: Simcere Pharmaceutical Group Ltd. (2096.HK) on Wednesday reported its revenue grew 27.3% to 2.7 billion yuan ($389 million) in the first half of the year, while its net profit plunged 88.8% to 61.9 million yuan. Looking up: The company’s revenue from innovative pharmaceuticals grew 44.8% year-on-year to 1.77 billion yuan, accounting for 65.4% of its total. Its core product Sanbexin, a self-developed innovative drug to treat ischemic stroke, accounted for 1.04 billion of that revenue alone. Take Note: The company’s investment portfolio recorded a loss of approximately 331 million…

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FAST NEWS: Kintor Pharma Strapped for Cash as Loss Widens

The latest: Kintor Pharmaceutical Ltd. (9939.HK) announced on Wednesday it did not record any revenue in the first half of the year, as its net loss widened to 518 million yuan ($75 million) from 326 million yuan in the same period last year. Looking up: The company said it does not anticipate any significant deviations from its drug development and commercialization plans, even though the global pandemic has had an impact on its ongoing clinical trials. It said development plans for its Covid oral drug Pruxelutamide have taken into account the impact…

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FAST NEWS: Chaoju Eye Care’s Growth Slows on Covid Disruptions

The latest: Eye clinic operator Chaoju Eye Care Holdings Ltd. (2219.HK) on Monday reported its revenue grew 6.5% to 532.7 million yuan ($77.1 million) in the first half of the year, while its net profit rose 29.4% to 101.8 million yuan. Looking Up: The company posted nearly 10% revenue growth for its higher-end consumer ophthalmic services, outpacing its overall growth. As a result, consumer ophthalmic services accounted for 54.6% of its total revenue in the latest reporting period, up from 53.3% a year earlier.   Take Note: Despite the strong net…

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