FAST NEWS: Simcere Pharma Surges After Applying for New Drug Clinical Trials

The latest: Simcere Pharmaceutical Group Ltd. (2096.HK) said on Thursday its self-developed anti-tumor drug candidates SIM0237 and SIM0348 were accepted by the Center For Drug Evaluation of China’s National Medical Products Administration (NMPA), but have yet to obtain approval for clinical trials. Looking up: The company’s shares have surged 42.1% over the last eight trading through Thursday, though it said it isn’t aware of any reasons for the unusual price and volume movements. Take Note: The two drugs have not yet been approved for clinical trials. Even if they are…

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New Drugs Approvals Bring No Relief for Ailing Innovent Bio

The innovative drug maker has been approved to sell two more cancer drugs in China, but that hasn’t lifted its stock price Key Takeaways: Innovent Bio has brought several drugs to market in recent years, including two announced last week, but is still losing money with no profits in sight The company has overhauled its commercialization model and is doing more licensing partnerships with multinationals to expand its drug pipeline By Molly Wen The Hong Kong stock market’s latest freefall hasn’t spared anyone, including once highly sought medical stocks that…

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FAST NEWS: WuXi AppTec Sees Profit Doubling in First Three Quarters

The latest: Pharmaceutical services outsourcing company WuXi AppTec Co. Ltd. (2359.HK; 603259.SH) on Thursday estimated its revenue in the first three quarters of this year rose 71.87% to 28.4 billion yuan ($3.99 billion) year-on-year, with its net profit up 107.1% to 7.38 billion yuan. Looking up: The company is confident of achieving its full-year revenue growth target of 68% to 72% this year, benefiting from full use of its global capacity at multiple locations and comprehensive coverage across industry supply chains, further demonstrating its economies of scale. Take Note: The…

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FAST NEWS: Clover to Complete Covid Vaccine Applications by Year-End

The latest: Clover Biopharmaceuticals Ltd. (2197.HK) said on Sunday it plans to complete registration applications for its lead Covid-19 vaccine candidate, SCB-2019, with the China National Medical Products Administration, the European Medicines Agency, and the World Health Organization by the end of this year. Looking up: The latest data from phase 2 and 3 clinical studies show the vaccine demonstrated a strong neutralizing response to the globally dominant Covid-19 Omicron BA.5 strain, and significantly reduces household transmission of the virus. Take Note: The Covid outbreak is still widespread and has…

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Lepu Biopharma Marches Towards First Sales as Costs Mount

Company’s Puyouheng cancer immunotherapy drug was approved for two indications in China, becoming its first commercialized product Key Takeaways: Lepu Biopharma will incur more operational costs as it builds up its production capacity and sales and marketing teams to commercialize its first approved product The company’s stock surged after it said it would list on Shanghai’s STAR Market and be included in the Shenzhen-Hong Kong Stock Connect program By Emily Chan After months of languishing in relative obscurity following its February Hong Kong IPO, Lepu Biopharma Co. Ltd. (2157.HK) has…

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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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Junshi Biosciences Hits Revenue Roadblock Amid Covid Drug Delay

Junshi Biosciences is facing business headwinds. Its key cancer drug has not sold as well as competing products and the company has yet to file a marketing application for its eagerly awaited Covid-19 oral drug. Key Takeaways: The company logged a revenue fall of 55% in the first half of the year and posted a loss of $131 million Phase 3 clinical trials for its Covid-19 oral drug wrapped up in May but the company has still not yet filed an application to market the product   By Molly Wen…

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No Early Relief for JW Therapeutics from Cancer Wonder Drug

The biotech company logs revenue of 66 million yuan from its cutting-edge cancer therapy, but losses jump more than 50% to nearly 430 million yuan. Key Takeaways: JW Therapeutics prices its new cancer therapy at around a million yuan, with the high production costs hard to bring down.  Large-scale market expansion is not going to be easy  The company is undervalued compared with its peers pending further progress in commercializing its products By Molly Wen A medical breakthrough is only one milestone on a long and uncertain road to mass…

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MingMed Biotech Joins Queue of Revenue-less Drug Startups Seeking IPO Cash

It has seven drugs under development but none on the market yet. But one thing MingMed Biotech has plenty of is losses Key Takeaways: With no drug revenues and growing R&D costs, MingMed Biotechnology plans to feed its cash-burning machine with a Hong Kong IPO Company has seven drugs in development, including six in the clinical stages By Ellie Si Despite nary a penny to their top line, a steady string of money-hemorrhaging Chinese innovative drug makers have lined up to list in Hong Kong since the city permitted the…

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FAST NEWS: New Horizon Health’s Loss Narrows on Booming Sales

The latest: Cancer-screening device maker New Horizon Health Ltd. (6606.HK) announced Friday that it lost 65.28 million yuan ($9.7 million) in the first half of the year, down significantly from a 2.89 billion yuan loss in the same period last year. Looking up: Revenues from the company’s ColoClear and Pupu Tube products increased by 419% and 132%, respectively, and it also recorded its first-ever sales from its UU Tube product during the period. Those gains powered a 413.7% revenue jump to 226 million yuan in the first half of the…

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