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Key Takeaways: New Horizon Health has brought in experienced accountants as independent directors and set up a special committee to investigate the allegations The controversy revolves around the company’s revenue accounting method, in which over-shipments of goods to distributors could inflate sales figures By Molly Wen
Key Takeaways: Akeso swung to an annual profit of 1.94 billion yuan, boosted by licensing income of 2.92 billion yuan The next highly anticipated product in the firm’s drug pipeline is ivonescimab, the first PD-1/VEGF bispecific antibody to enter Phase III clinical trials By Molly Wen
Key Takeaways: AstraZeneca will acquire Chinese cell therapy maker Gracell for up to $1.2 billion, representing an 86% premium to the company&rs...
Key Takeaways: After its shares plunged more than 30% in a week, WuXi Bio announced a buyback of 10% of its shares, saying the battered price did not reflect the company’s value or business prospects The company blamed the weaker revenue outlook on a financing slowdown in the biopharma industry and regulatory delays in launching star
Key Takeaways: Junshi Bio will receive milestone payments and 20% of sales of its PD-1 drug Toripalimab in the U.S., following the drug’s recent approval by the FDA The drug maker’s revenue fell 19% year-on-year in the first nine months of 2023, as its net loss narrowed to 1.41 billion yuan By Molly Wen