Weekly Highlights: Bayer's Global Head of Biotechnology Departs; 2024 National Reimbursement Drug List Adjustment Launched

Head of Bayer's Global Biotechnology Departs

According to Fierce Biotech, Jens Vogel, Senior Vice President and Global Head of Biotechnology at Bayer, will leave the company.

Novartis' Capmatinib Approved for Marketing in China

On June 12, Novartis announced the launch of Capmatinib Hydrochloride Tablets (Toreada).^®) has been approved by the China National Medical Products Administration (NMPA) for marketing, indicated for adult patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) harboring MET exon 14 skipping mutations who have not received prior systemic treatment.

Lilly's Alzheimer's Treatment Receives Support from FDA Advisory Committee

On June 11, the Peripheral and Central Nervous System Drugs Advisory Committee (PCNS) of the U.S. FDA voted 11 to 0, unanimously determining that Eli Lilly's Alzheimer's disease (AD) antibody therapy donanemab has benefits that outweigh the risks for treating patients with early symptomatic Alzheimer’s disease. In a simultaneous 11 to 0 vote, the committee also concluded that the data submitted by Eli Lilly demonstrated the drug’s efficacy.

Price of Hong Kong Version of Angong Niuhuang Pill Increases by Over 20%, with One Pill Costing Nearly 1200 RMB

Recently, the official website of Beijing Tongrentang Chinese Medicine Co., Ltd. (hereinafter referred to as Tongrentang Chinese Medicine) showed that the price of the Hong Kong version of one-pill Angong Niuhuang Pill is 1,280 Hong Kong dollars (approximately 1,189 yuan), and the price of the six-pill Angong Niuhuang Pill is 7,680 Hong Kong dollars (approximately 7,133 yuan), with each pill weighing 3 grams. Previously, the price of one pill of the Hong Kong version of Beijing Tongrentang's Angong Niuhuang Pill was 1,060 Hong Kong dollars (approximately 985 yuan), which means that the price increase this time exceeds 20%.

Over $1.7 Billion! AbbVie Partners with a Chinese Biotech Company

On June 13, AbbVie and Mingji Biopharmaceutical (Beijing) Co., Ltd. announced the signing of a licensing agreement to jointly develop FG-M701.

Under the terms of the agreement, AbbVie will obtain the exclusive global license for the development, manufacturing, and commercialization of FG-M701. MabGenesis will receive $150 million as an upfront payment and near-term milestone payments, and is eligible to receive up to an additional $1.56 billion in clinical development, regulatory registration, and commercialization milestone payments, as well as tiered royalties of up to a low double-digit percentage of net sales.