Weekly Highlights: Shanghai Issues 55 Prohibitions; Guangyuanyuan and First Pharmacy Announce Executive Changes
Qilu Pharmaceutical
Specialty Formulations and Active Pharmaceutical Ingredients (API) Developer
Legend Biotech
Tumor Cell Immunotherapy Developer
"Weekly Highlights"
"Weekly Highlights" is a column launched by Siqi Club to summarize the major events in the pharmaceutical industry over the past week, covering the latest policy updates, news, pharmaceutical finance, and drug approval progress.
Personnel Changes
HUMAN RESOURCES
Guang Yu Yuan Director Zhang Bin, Director and President Miao Hui Resign
On the evening of April 9, Guangyu Pharmaceutical announced that the company's board of directors had recently received written resignation reports from director Zhang Bin and director兼president Miao Hui:
Zhang Bin has applied to resign from his position as a director of the company due to personal reasons. After his resignation, Zhang Bin will no longer hold any position in the company.
Miao Hui has applied to resign from the positions of company president, director, and member of the Compensation and Evaluation Committee due to personal reasons. After the resignation, Miao Hui will no longer hold any position in the company.
Resignation of Director of Shanghai No.1 Pharmacy Co.,Ltd.
On the evening of April 8, Shanghai No.1 Pharmacy Co., Ltd. announced that Wu Ping had applied to resign from his positions as a director of the 10th board of directors, member of the Strategic Committee, and member of the Nomination Committee due to reaching the statutory retirement age. After his resignation, Mr. Wu Ping will no longer hold any position in the company.
Policy Brief
POLICY
Shanghai Municipal Health Commission Issues "Nine Guidelines" with 55 Prohibitions
Shanghai Municipal Health Commission Issues Detailed Rules for the Nine Guidelines on Clean Professional Conduct for Staff of Medical Institutions in Shanghai (Abbreviated as "Nine Guidelines"), Proposing 55 Prohibitions in Nine Areas Such as Corporate Kickbacks, Commercial Commissions, Red Envelopes from Patients, and Fraudulent Insurance Claims. The Shanghai Municipal Health Commission Clarifies That the 55 Prohibitions Serve as Both a Negative List and a Baseline for Basic Behavior.
Pharmaceutical News Updates
PHARMA
Roche's Alzheimer's Disease Detection Method Receives FDA Breakthrough Device Designation
On April 11, Roche Pharmaceuticals announced that its plasma biomarker Elecsys pTau217, used to support the early diagnosis of Alzheimer's disease, received the FDA’s Breakthrough Device Designation.
Qilu Pharmaceutical's Romiplostim Biosimilar Approved for Marketing
On April 11, according to the NMPA website, Qilu Pharmaceutical's romiplostim biosimilar has been approved for marketing. Romiplostim is a thrombopoietin (TPO) receptor agonist, mainly used for the treatment of primary chronic immune thrombocytopenia.
Legend Biotech's CAR-T Therapy Second-Line Indication Approved in the U.S.
On April 5, Legend Biotech announced in Somerset, New Jersey, USA, that the FDA has approved CARVYKTI for the treatment of patients with relapsed or refractory multiple myeloma who have previously received at least one prior line of therapy, including a proteasome inhibitor and an immunomodulatory agent, and are lenalidomide-refractory.
Pharmaceutical Finance
BUSINESS
$8.4 Billion: Novartis Acquires Two PROTACs
On April 11, PROTAC leader Arvinas announced that it had reached an exclusive strategic licensing agreement with Novartis. Novartis will obtain the global development and commercialization rights for Arvinas' second-generation androgen receptor (AR) targeted protein degrader chimera (PROTAC) ARV-766. The collaboration also includes an asset purchase agreement, under which Arvinas will sell another AR-targeted PROTAC degrader, AR-V7, which is in the preclinical stage, to Novartis. The total value of this collaboration amounts to $1.16 billion (approximately 8.39 billion yuan).
Merck Acquires ADC Pharma Company for $208 Million
On April 8, Merck announced plans to acquire Abceutics, a preclinical-stage company, for $208 million to obtain the latter's technology aimed at improving the safety and efficacy of ADC therapies.
Vertex Acquires Alpine for $4.9 Billion
On April 11, Vertex announced the acquisition of Alpine Immune Sciences for $4.9 billion.
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