Boosted by Hansoh Pharmaceutical's $1 billion Hong Kong IPO, its helmswoman and her Jiangsu Hengrui mastermind husband sit among the world's richest biopharma families. Korean prosecutors questioned a top Samsung executive over an alleged systematic attempt to cover up accounting irregularities. The FDA has noted data integrity problems at another Aurobindo Pharma plant in India. And more.
China’s Hansoh Pharmaceutical soared on its Hong Kong exchange debut Friday. The IPO values the company at $10.4 billion, and with a 68% stake, its founder, chairwoman and CEO, Zhong Huijuan, is worth $7.9 billion, according to Bloomberg. Her husband, Sun Piaoyang, is worth $9.3 billion, thanks to his one-fourth equity interest in Jiangsu Hengrui Medicine. Combined, they sit among the world’s richest biopharma families.
Samsung Electronics' president, Chung Hyun-ho, was questioned by prosecutors Tuesday. Prosecutors suspect that Chung ordered the destruction and manipulation of evidence to cover up alleged accounting problems related to Samsung BioLogics and how it inflated the value of its stake in Samsung Bioepis, a biosimilar joint venture with Biogen.
Problems with Aurobindo Pharma’s plants just keep coming. Shortly after the FDA dinged the drugmaker’s sterile drug plant in Telangana, the agency has slapped a 15-page Form 483 on a finished drug facility there, citing 10 observations that include data integrity failures. The U.S. market has become more important for the Indian company after its $1 billion deal with Novartis’ Sandoz.
In a new regulation (Chinese) that will take effect July 1, China is tightening the use of human genetic materials—ranging from DNA to organs, tissues and cells—and genetic data. Foreign entities are not allowed to collect or preserve China’s human genetic resources. Violations could lead to fines up to 10 times the illegal gains. The new rule also includes penalties for misleading or deceiving donors into providing such materials. The news came after the birth of twin gene-edited babies shot the country's genetic research into the global spotlight.
Three workers were killed instantly when the boiler they were working on at Pusilin Biotechnology Private exploded, Xinhua reported. The plant is in Haryana, near New Delhi. According to the Chinese Embassy in India, two of the engineers were Chinese and one was Indian, the news agency said.
6. Zai Lab buys China rights to Deciphera’s solid tumor candidate in $205M deal
Everest Medicines inks $126M pact for China rights to Calliditas’ Nefecon
Brii Bio invests in Yale spinout, licenses up to 3 programs for IBD
In a trio of China licensing deals, Zai Lab has acquired greater China rights to Deciphera’s ripretinib, which is in clinical development for gastrointestinal stromal tumors and others driven by KIT or PDGFRα; Everest Medicines shelled out $15 million upfront for regional rights to Calliditas’ lead candidate Nefecon for the treatment of chronic autoimmune kidney disease IgA nephropathy; startup Brii Biosciences joined a series A round for Yale University spinout Artizan Biosciences and licensed China rights to up to three programs that leverage the identification of disease-driving bacteria to develop therapies for inflammatory bowel disease.