This week in FiercePharmaAsia, we visit 6 Dimensions Capital's recent investments, Sun Pharma's FDA nod for its specialty psoriasis drug Illumya, China's new tariff policy on cancer drugs and more.
Investment shop 6 Dimensions Capital, founded last May through the merger of Ge Li’s WuXi Healthcare Ventures and China-based Frontline BioVentures, has been quite active. Its recent work includes co-leading AstraZeneca spinout Viela Bio's $250 million series A in late February and Ideaya’s $94 million series B last week. And this week, it co-led TCR2 Therapeutics’ $125 million megaround and doubled down on Unity Biotechnologies by pitching in its $55 million series C.
After years on the generics side, Sun Pharma is finally emerging in the specialty pharma business. Ilumya, a psoriasis drug it licensed from Merck through a $80 million deal, was approved by the FDA as “sort of a flagship product,” an executive told FiercePharma. But it has to face head-to-head competition from Johnson & Johnson’s Tremfya, approved by the FDA last July.
Chinese premier Li Keqiang said China will remove import tariffs on foreign cancer drugs, aiming to secure more options for consumers and to push domestic pharmas to upgrade their products further. The tariff move came as U.S. President Donald Trump mulled tariffs on $60 billion worth of Chinese products; the Trump administration confirmed that move Friday.
The Indian government has proposed a new drug guideline requiring public programs to procure at least half of all medical disposables and consumables from local companies. The guideline would mandate smaller shares for the acquisition of medical electronics, hospital equipment, surgical instruments, implants, diagnostic reagents and IVDs.
The FDA issued a warning letter to India’s Malladi Drugs & Pharmaceuticals centered on the potential for API contamination. The agency noted that vermin, including birds and insects, were active near open equipment used for drug manufacturing.