Sanofi Acquires Inhibrx for $2.2 Billion to Bolster Rare Disease Pipeline
BeOne
Developer of Molecular Targeted and Immune Anti-Tumor Drugs
Medtronic
Medical Device Manufacturer
Johnson & Johnson
Medical Device R&D and Manufacturer
"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, drug approval progress, and other industry-related content.
Personnel Changes
HUMAN RESOURCES
Latest Senior Management Changes at BeOne Medicines
On January 24, BeOne Medicines announced that Mr. Thomas Malley had resigned from his position as an independent non-executive director of BeOne Medicines Ltd. and corresponding positions on the board's special committees, effective January 22, 2024.
Following the review by the company's board of directors, Dr. Olivier Brandicourt has been appointed as an independent non-executive director of the board, effective from January 23, 2024.
Philips Appoints Chief Commercial Officer for Greater China
According to the report by "MedTalent Medical Talent," an internal notice from Philips stated that Liu Ling, formerly the Vice President of Philips Greater China and head of finance, and currently the CFO of the North America region, will soon return to China to assume the role of Chief Commercial Officer for the Greater China region. It is understood that Liu Ling will lead all business functional departments and oversee the implementation of sales and commercial objectives.
Medtronic China Executive Change
Zang Jing Laura, the business leader of Boston Scientific's cardiac intervention division, will join Medtronic on January 30th to serve as the Commercial Vice President of the Surgical Operations Department in China.
Policy Brief
POLICY
Out-of-hospital prescriptions incorporated into in-hospital management, pharmacy trusteeship prohibited
On January 16, the Health Commission of Sichuan Province officially released the "Notice on Further Strengthening the Management of External Prescriptions in Public Medical Institutions," requiring standardized management of medical institution pharmacies, prohibiting the entrustment of pharmacies to profit-making enterprises, and enhancing the supervision of external prescriptions.
Pharmaceutical News Updates
PHARMA
Pfizer Announces Approval of New Oral Migraine Drug in China
On January 26, Pfizer announced that the new generation of specific migraine treatment drug Rimegepant Orally Disintegrating Tablets had been approved by the China National Medical Products Administration (NMPA) for the acute treatment of migraine with or without aura in adults.
Johnson & Johnson's EGFR/MET Bispecific Antibody and Another New Drug Submitted for Marketing Approval in China
On January 26, the official website of the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) of China announced that two product marketing applications from Johnson & Johnson had been accepted: the EGFR/MET bispecific antibody therapy Amivantamab Injection and the third-generation EGFR-TKI oral medication Lazertinib Mesylate Tablets.
Bayer Announces Submission of "Aflibercept 8mg" for Market Approval in China
On January 25, Bayer announced that the Center for Drug Evaluation (CDE) of the China National Medical Products Administration had accepted the marketing application for aflibercept 8mg for the treatment of neovascular (wet) age-related macular degeneration (nAMD).
Pharmaceutical Finance
BUSINESS
Novo Nordisk Introduces New Mechanism Weight Loss Drug
On January 23, EraCal Therapeutics announced a collaboration and licensing agreement with Novo Nordisk to develop and commercialize EraCal's investigational oral small molecule drug. The drug, discovered using EraCal’s platform technology, targets an innovative mechanism of action that controls appetite and body weight for the treatment of obesity. EraCal is eligible to receive up to €235 million in upfront and development and commercialization milestone payments.
Wantai Bio's 2-Valent HPV Vaccine Revenue Drops by 4.2 Billion Yuan
On January 23, Wantai Biologics announced that its estimated net profit for 2023 would be RMB 1.2 billion to RMB 1.35 billion, a year-on-year decrease of 74.66% to 71.49%. The company stated that one of the core reasons is that its bivalent cervical cancer vaccine sales did not meet expectations due to the expanded age range of the nine-valent cervical cancer vaccine and market competition, resulting in a year-on-year decrease of approximately RMB 4.2 billion.
Sanofi Acquires Inhibrx
On January 23, Inhibrx and Sanofi jointly announced that they had reached a definitive agreement, under which the latter will acquire all assets and liabilities related to INBRX-101, with the total transaction valued at approximately $2.2 billion.
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