Weekly Highlights: Innovent and Medtronic Executive Appointments; Launch of 2024 National Medicare Fund Surprise Inspections
Innovent
High-end Biologics Developer
Medtronic
Medical Device Manufacturer
Qilu Pharmaceutical
Specialty Formulations and Active Pharmaceutical Ingredients (API) Developer
CHIATAI TIANQING
High-quality pharmaceuticals research, production, and sales provider
Junshi Biosciences
Innovative Drug Developer
"Weekly Highlights"
"Weekly Highlights" is a column launched by Siqi Club to summarize the major events in the pharmaceutical industry each week, covering the latest policy updates, news, pharmaceutical finance, and drug approval progress.
Personnel Changes
HUMAN RESOURCES
Innovent Bio Appoints Global Chief Commercial Officer
On April 30, Innovent Bio announced the appointment of Su Hua Zhang as Global Chief Business Officer (CBO). Su Hua Zhang will be responsible for Innovent Bio's global business strategic planning and business development, reporting to the company's founder, Chairman and CEO, De Chao Yu.
Medtronic Appoints This Senior Executive
Medtronic Updates Leadership Change, Appoints Yarmela Pavlovic as New Chief Regulatory Officer. This is reported to be the first time since 2009 that Medtronic has had a C-level executive dedicated to regulatory affairs.
Policy Brief
POLICY
2024 National Medical Device Inspection Launched
On April 28, the National Healthcare Security Administration, the Ministry of Finance, the National Health Commission, and the National Administration of Traditional Chinese Medicine jointly issued the "Notice on Launching the 2024 Medical Security Fund Fly-Check," marking the official start of national fly-checks covering all provinces (autonomous regions, municipalities, and the Xinjiang Production and Construction Corps) as well as various entities using medical insurance funds across China.
Pharmaceutical News Updates
PHARMA
Qilu Pharmaceutical's Denosumab Injection "Ludaxin" Approved for Marketing
On April 23, BeiGene announced that the European Commission (EC) has approved tislelizumab for first-line and second-line treatment of three non-small cell lung cancer (NSCLC) indications. This is the second approval for tislelizumab in the region.
CHIATAI TIANQING's New Lung Cancer Drug "Annekexi" Approved for Marketing
China Biologic Products Announces NMPA Approval of TQ-B3101 (Anacitinib Fumarate Capsules), a Class 1 Innovative Drug Independently Developed by Its Subsidiary CHIATAI TIANQING, for Adult Patients with ROS1-Positive Locally Advanced or Metastatic Non-Small Cell Lung Cancer
Bristol-Myers Squibb's Cardiomyopathy Drug "Mavacamten" Approved for Marketing in China
On April 30, Bristol-Myers Squibb announced that mavacamten capsules, a cardiac myosin inhibitor, were approved for marketing by the China National Medical Products Administration (NMPA). The drug is indicated for adult patients with obstructive hypertrophic cardiomyopathy (HCM) classified as New York Heart Association (NYHA) functional class II-III, to improve exercise capacity and symptoms. According to the press release, this is the world’s first cardiac myosin inhibitor.
Pharmaceutical Finance
BUSINESS
Junshi Biosciences Reports Revenue of 380 Million Yuan in Q1
On April 29, Junshi Biosciences released its Q1 2024 report. During the reporting period, the company's revenue reached 380 million yuan, representing a year-on-year increase of 49.24%.
Japanese Consortium to Acquire Centennial TCM Brand Eu Yan Sang
Japan's Mitsui & Co announced that it, along with Rohto Pharmaceutical Co., will acquire Eu Yan Sang International Ltd., valuing the Singapore-based traditional Chinese medicine company at 800 million Singapore dollars. A joint venture between Mitsui and Rohto will purchase an 86% stake in Eu Yan Sang International from Righteous Crane Holding. Upon completion of the acquisition, the joint venture will make a tender offer for the remaining 14% of Eu Yan Sang shares, while the Yu family will reinvest part of their proceeds into the Mitsui-Rohto joint venture.
Regeneron and Mammoth Biosciences Reach Collaboration
On April 26, Regeneron and Mammoth Biosciences announced a collaboration agreement with an upfront payment of $100 million. The two companies will jointly research, develop, and commercialize in vivo CRISPR gene editing therapies for various tissues and cell types.
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