Everest Refocuses After Trodelvy Twist

A shift in investor sentiment in 2021 hit Everest hard when it was expanding the commercial team for cancer drug Trodelvy. Entering 2022, the sustained downturn in the capital market environment eventually changed the way the Chinese biotech considers launching drugs in the market.

Trodelvy sale — Everest has used more than 95% of cash it allocated to Trodelvy following 2020 IPO • Source: Shutterstock

Hong Kong-listed Everest Medicines Limited is mulling tweaking its business strategy of in-licensing Asia territory rights to foreign drug candidates, with a potential focus on renal diseases taking the front seat.

The Chinese biotech’s tentative departure from the crowded therapeutic area of oncology surfaced after it sold back to Gilead...