FAST NEWS: Henlius Lung Cancer Drug Gets ‘Orphan’ Status in Europe

The latest: Shanghai Henlius Biotech Inc. (2696.HK) said on Thursday its self-developed small cell lung cancer drug Hansizhuang has been granted orphan drug status by the European Commission (EC). Looking up: The designation, given to drugs to treat relatively rare conditions, will allow the Hansizhuang to enjoy certain policy support in its subsequent development in the EU. Such support includes protocol assistance for clinical studies, access to the centralized authorization procedure and 10 years of market exclusivity after the drug is approved for marketing. Take Note: Even if Hansizhuang is…

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Fosun Scrambles to Sell Its Way Back to Health. But Will It Mortgage Its Future?

Billionaire Guo Guangchang’s flagship investment group aims to sell up to $11 billion in non-core holdings to pay down its debt. But such sales could leave it with less-desirable assets Key Takeaways: Fosun International aims to raise as much as $11 billion by selling non-core assets in the next 12 months, according to a Bloomberg report. The sale of better-performing assets might leave the group with subpar businesses that would worsen its debt problem By Warren Yang Things are looking messy these days for Fosun International Ltd. (0656.HK), the debt-laden…

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Fosun International Sells Assets as Short-Term Cash Crunch Looms

Moody’s downgraded the Shanghai-based financial conglomerate last month, saying it could have difficulty repaying its ‘sizable debt’ maturing over the next 12 months Key Takeaways: Fosun has sold down its stake in New China Life, its latest move to raise cash as it faces large debt maturing in the next 12 months The company is also selling down stakes in its Fosun Tourism unit, owner of the Club Med resort chain, and appears to be selling shares in its core Fosun Pharma holding By Doug Young A group of Chinese…

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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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Genuine Biotech Seeks IPO Booster from New Oral Covid Drug

Company hopes China’s approval of its small molecule oral Covid-19 drug will draw investors to its newly filed listing plan Key Takeaways: Genuine Biotech has filed to list in Hong Kong, planning to raise funds to commercialize its newly approved oral Covid drug The company’s Azvudine is the first domestically developed oral Covid-19 drug approved for China, though some still question its effectiveness By Molly Wen A little-known drug maker named Genuine Biotech Ltd. wants to strike while the iron is hot, and is rushing to sell investors on its…

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FAST NEWS: Fosun Pharma Raises $660 Million in Non-public Placement of A-Shares

The latest: Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (2196.HK; 600196.SH) announced on Wednesday it plans to raise up to 4.48 billion yuan ($660 million) through a non-public offering of about 107 million A shares to specific targets. Looking up: The proceeds will be used to prepare for innovative drug clinics, licensing and product launches, as well as to build an intensive comprehensive base and replenish working capital. According to the company, the fundraising will strengthen its internationalization strategy, promote the development of its main business and strengthen its debt structure.…

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YSB’s B2B Pharma Platform: Sexier Than the SOEs, But Stodgier Than B2Cs

The drug distributor for pharmacies and community-level medical institutions has filed for a Hong Kong listing, boasting strong revenue growth but also massive losses Key Takeaways: YSB has filed for a Hong Kong listing, operating a B2B drug-selling business model with lower margins than B2C platforms Company operates a drug-trading platform and its own proprietary business, with a P/S ratio lower than B2C platforms but higher than traditional drug distributors By Molly Wen While selling to consumers can generate big user numbers for e-commerce companies, it also generates big pressure…

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CanSino’s Covid Vaccine Gets WHO Nod. But Is It Too Little, Too Late?

The company’s Convidecia has received emergency-use authorization from the World Health Organization, becoming the third Chinese vaccine to get that nod Key Takeaways: CanSino’s Covid-19 vaccine Convidecia will be admitted to the global Covax program following its approval by the WHO The approval could have limited benefits for the company as the pandemic fades and other products are widely available By Jony Ho As the Covid-19 pandemic recedes and countries start to reopen, the World Health Organization (WHO) has just granted an emergency-use license to yet another Chinese vaccine. But…

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AIM Puts mRNA Covid Vaccine in Investor Crosshairs With New IPO Attempt

Vaccine maker’s previous IPO bids on Shenzhen’s ChiNext board and in Hong Kong failed, but it is soldiering ahead with a new attempt in Hong Kong Key takeaways: Vaccine maker AIM has filed for an IPO in Hong Kong, following unsuccessful previous bids in Hong Kong and on Shenzhen’s ChiNext board The company has three Covid vaccines under development, including an mRNA vaccine expected to hit the market in the fourth quarter By Fai Pui If at first you don’t succeed, try, try again. And again. And again. That’s the mantra…

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