China biotechs blossom with millions in new funding for antibody developer Adagene and diabetes drug maker Hua Medicine, and a planned CNY5.7bn Shanghai listing for WuXi Apptec. However, national innovation darling Innovent Bio has withdrawn its PD-1 approval filing, dealing a setback to a crowded area.
Innovent Biologics Inc. has withdrawn an approval filing for its lead immuno-oncology asset with the China FDA, dealing a setback to the Chinese biotech unicorn, which is valued at around $1bn.
Suspensions over quality issues for the molecule, IBI308, prompted Innovent Bio to put out a statement in late December, saying the PD-1-targeting drug's clinical development is fully compliant with regulations and rules, the data are
Pharmaceutical industry organizations offered alternatives to tariffs that could maintain a secure domestic supply chain in public comments filed in response to a 232 investigation.
The US FDA has ordered compounders of the Danish firm's obesity drug semaglutide to shut up shop later this month, but competition from Eli Lilly is only increasing.
The weak US dollar helped some companies reporting first-quarter results and hindered others reporting in stronger currencies. But even the impacts of currencies and Medicare modernization on first-quarter revenues were overlooked when an end to the trade wars seemed possible.
