Weekly Highlights: Novartis and Johnson & Johnson Leadership Changes; Fulan Therapeutics Inks $571.5M Global Out-License Deal for NTSR1-Targeted Radiopharmaceutical FL-091
Johnson & Johnson
Medical Device R&D and Manufacturer
BeOne
Developer of Molecular Targeted and Immune Anti-Tumor Drugs
Huadong Medicine
Large Comprehensive Pharmaceutical Product Developer
"Weekly Highlights"
"Weekly Highlights" is a column launched by Siqi Club to summarize the major events in the pharmaceutical industry on a weekly basis, covering the latest policy updates, news, pharmaceutical finance, drug approval progress and other industry-related content.
Personnel Changes
HUMAN RESOURCES
Head of Oncology Treatment at Novartis China to Step Down
Novartis announced that Yan Qiong, the current head of oncology treatment at Novartis China, will be leaving her position, and this role will be temporarily assumed by Chen Hui, the current head of retail, emerging markets, and the commercial department.
Johnson & Johnson Medical China's New President to Take Office Soon
On July 15, Johnson & Johnson announced that Edward Zhou (Zhou Mintao) will assume the position of President of its Medical Technology China Region on July 25. He will report to Vishnu Karla, Chairman of Johnson & Johnson Medical Technology Asia-Pacific, and become a member of the Johnson & Johnson Medical Technology Asia-Pacific leadership team.
Policy Brief
POLICY
The Lifetime Tenure of Academicians, Gone
According to a message from the Chinese Academy of Engineering on July 9, at recent meetings of academicians from both academies, newly revised "Statutes of the Chinese Academy of Sciences" and "Statutes of the Chinese Academy of Engineering" were deliberated and passed, further clarifying the mechanisms for the addition and exit of academicians.
In terms of improving the mechanism for academicians' exit, Li Xiaohong, President of the Chinese Academy of Engineering, proposed for the first time in his report to formulate a "negative list" for academicians' behavior, showing zero tolerance towards phenomena violating academic ethics and discipline, and implementing measures such as suspending the right to nominate and review for a certain period.
Pharmaceutical News Updates
PHARMA
BeOne Medicines' Innovative Anti-Tumor ADC Approved for Clinical Trials in China
On July 15, the official website of the Center for Drug Evaluation under the China National Medical Products Administration announced that the investigational new drug BG-C9074 Injection, submitted by BeOne Medicines, had been approved for clinical trials. The drug is intended for the treatment of advanced solid tumors.
Roche's Oral GLP-1 Phase I Study Results Positive
On July 17, Roche announced positive results from two treatment groups in the Phase I clinical trial of the oral GLP-1 drug CT-996. The data showed that obese subjects without type 2 diabetes who received CT-996 treatment experienced an average placebo-adjusted weight loss of -6.1% (p <0.001) after 4 weeks.
Zai Lab's Subcutaneous Injection of Efgartigimod Approved for gMG
On July 16, Zai Lab and argenx jointly announced that the National Medical Products Administration had approved Vyvgart.®(Biologics License Application for Efgartigimod Subcutaneous Injection, 1,000mg (5.6ml)/vial) in combination with conventional therapy for the treatment of adult patients with generalized myasthenia gravis (gMG) who are positive for acetylcholine receptor (AChR) antibodies.
Pharmaceutical Finance
BUSINESS
1.285 Billion Yuan! Huadong Medicine Introduces a New Stroke Drug
On July 14, Huadong Medicine announced that its subsidiary, Sinopharm East-West and AusBio had reached an exclusive licensing agreement for TTYP01 tablets (Edaravone tablets). Sinopharm East-West has obtained the exclusive license for all indications of TTYP01 tablets in mainland China, Hong Kong, Macao, and Taiwan. AusBio will receive an upfront payment of 100 million RMB, milestone payments of up to 1.185 billion RMB for development, registration, and sales, as well as tiered royalties of up to double digits on net sales.
Johnson & Johnson's Q2 Sales Reach $22.447 Billion, Up 4.3% Year-over-Year
On July 17, Johnson & Johnson announced its financial report, with second-quarter sales of $22.447 billion, a year-on-year increase of 4.3%; adjusted net profit was $6.840 billion, a year-on-year increase of 1.6%. Johnson & Johnson expects sales for 2024 to be between $88 billion and $88.4 billion.
Fulink Radiopharmaceuticals Out-License
On July 17, Fluorine Link Technologies announced that it has granted SK Biopharmaceuticals the exclusive global rights for clinical research, development, manufacturing, and commercialization of the radiopharmaceutical FL-091, targeting cancers positive for Neurotensin Receptor 1 (NTSR1). The total value of the deal is $571.5 million, including upfront payments, R&D and commercial milestone payments, with royalties not included in the total.
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