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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Booster Shot for Brii Biosciences with First Covid Drug Launch

Brii Biosciences announced the commercial launch of its injectable Covid antibody treatment, which will be covered by government medical insurance in many parts of the country Key Takeaways: The antibody injection developed by Brii Biosciences is China’s first nationally approved Covid treatment and is effective against Omicron variants It will face fierce competition from oral drugs developed by other Chinese pharma companies By Molly Wen China’s first domestically produced Covid drug has finally launched, giving its maker an early lead in the sprint to bring new anti-virus therapies onto the…

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Could Covid Drugs Help Cure Financial Ills at Ascletis Pharma?

Ascletis Pharma has applied for U.S. FDA approval to start clinical trials on a new Covid drug, ASC10 Key Takeaways: Ascletis Pharma is ready to put its new Covid drug into clinical trials, but the firm is lagging in the race to bring similar medicines to market With mounting losses weighing on its share price, the company’s main hope for better sales lies in its ritonavir tablets used in existing Covid treatments By Molly Wen As Covid becomes an endemic illness, the global pharma sector is looking to develop a…

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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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FAST NEWS: Junshi Biosciences Oral Covid Drug Wraps Up Trials, to Seek Sales Approval

The latest: Drug developer Shanghai Junshi Biosciences Co. Ltd. (1877.HK; 688180.SH) announced late Monday that VV116, an oral drug developed by its JunTop Biosciences unit for the early treatment of Covid-19, has reached the main endpoint of clinical studies. Looking up: The company said it will communicate with China’s National Medical Products Administration (NMPA) on submitting a new drug application in the near future. If approved, sales of the drug could provide a major new revenue source. Take Note: The NMPA has approved the import of the oral Covid drug Paxlovid from Pfizer (PFE.US), which has been conditionally included on the National Reimbursement…

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FAST NEWS: Kintor Pharma Soars on Good Results for Covid Drug

The latest: Kintor Pharmaceutical Ltd. (9939.HK) on Wednesday announced positive results from a Phase 3 clinical trial for its drug Proxalutamide for the treatment of mild-to-moderate ambulatory Covid-19 patients, saying top-line data showed the drug was effective in reducing hospitalization and mortality rates, particularly in middle-aged and elderly people with high risk factors. Looking up: The company said that throughout the trial, the incidence of treatment-emergent adverse events in the two groups of subjects was only 7.9% and 9.6%, most of which were mild reactions such as dizziness. It added…

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FAST NEWS: CanSino’s Covid mRNA Vaccine Approved for Clinical Trials in China

The latest: A new Covid-19 mRNA vaccine developed by CanSino Biologics Inc. (6185.HK) has been approved by China’s National Medical Products Administration to begin clinical trials in the country, the company announced on Monday. Looking up: The announcement cites preclinical studies showing the new vaccine can induce high-titer neutralizing antibodies against multiple Covid variants recognized by the World Health Organization as important variants, including the current dominant strain. Compared with the current original strain-based Covid vaccines, the company stated that its new mRNA vaccine can elicit neutralizing antibodies with better…

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Fosun Pharma Hopes Covid Vaccine Can Cure Its Ailing Margins

Company licensed to sell BioNTech’s mRNA vaccine in China reported its revenue rose 28.8% last year, with the Comirnaty vaccine bringing in over $157 million Key takeaways: Fosun Pharma’s revenue and profit both rose around 30% last year as Covid-19 vaccines and stake sales in its subsidiaries contributed to its top and bottom lines The company’s gross margin fell sharply as some of its drugs were added to government procurement programs that promise higher sales but at heavy discounts By Molly Wen Vaccines have been the most potent weapon in…

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Hutchmed Roils Markets With Changing of Its Guard, U.S. Delisting Threat

U.S. securities regulator singles out company for potential delisting, a week after Hutchmed announced its CEO will step down after almost 22 years Key Takeaways U.S. securities regulator says Hutchmed is one of five Chinese companies in danger of delisting, a week after company announced the retirement of its longtime CEO Company’s shares have tumbled more than 40% on the developments, even as it reported strong revenue gains for 2021 and nears its first approval to sell a drug in the U.S. By Richard Barbarossa Talk about getting hit when…

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