AstraZeneca's China president has been detained by Chinese authorities amid investigation into illegal importation and improper collection of patient data. Pfizer plans to invest $1 billion in China in the next five years. Sun Pharma's JAK inhibitor Leqselvi was slapped with an injunction in a lawsuit with Incyte. And more.
1. UPDATED: AstraZeneca stock tanks over fears of expanding China fraud probe
AstraZeneca said its China president Leon Wang has been detained by Chinese authorities. The company said the investigation is around whether the company’s employees had illegally imported the HER2-targeted antibody-drug conjugate Enhertu and the cancer immunotherapy Imjudo from Hong Kong to the mainland, as well as allegations that they had improperly collected patient data, according to The Wall Street Journal.
2. Pfizer’s China 2030 plan includes $1B investment, collaboration with local biotech (National Business Daily, Chinese)
Pfizer plans to invest $1 billion in China from 2025 to 2030, the company’s China president, Jean-Christophe Pointeau, told reporters during the ongoing China International Import Expo in Shanghai, multiple local media outlets report. The investment will help accelerate the introduction of new drugs, improve diagnostic capabilities and support the local biotech industry through collaborations. As a first step, Pfizer signed (Chinese) a memorandum of understanding with local firm Mabworks and the CRO Kyinno Bio to develop novel therapies for multiple myeloma.
3. Incyte wins injunction to block launch of Sun Pharma's JAK inhibitor Leqselvi
Sun Pharma’s planned mid-October launch for its alopecia drug Leqselvi in the U.S. will have to wait, thanks to an injunction handed down by a New Jersey federal court in favor of Incyte. The lawsuit surrounds Incyte’s ’335 patent for ruxolitinib, which is the active ingredient in Incyte’s Jakafi and Opzelura. Sun said it plans to immediately appeal the ruling.
4. Gardasil's China troubles haunt Merck in Q3, with execs warning of more obstacles ahead
The Gardasil HPV vaccine franchise continued its decline for Merck & Co. because of lower demand in China. Sales from the business slid 11% year over year to $2.3 billion, despite double-digit growth in almost “almost every other region,” according to CEO Rob Davis. The company warned that China revenue for the vaccine will likely decline further in 2025.
5. VC Aditum Bio hatches autoimmune-focused Oblenio Bio with asset from Chinese biotech
China’s Leads Biolabs has sent a CD19/BCMA/CD3 trispecific T-cell engager for autoimmune diseases to a startup hatched by California venture capital firm Aditum Bio. The new biotech, called Oblenio Bio, is giving Leads $35 million in upfront and near-term payments and up to $579 million in milestones, plus an equity stake.
6. Dr. Reddy's pulls more than 300K bottles of thyroid drug, citing presence of a carcinogen
In three separate recalls, Dr. Reddy’s Laboratories is calling back 331,590 bottles of cinacalcet tablets in the U.S. after the company found traces of a carcinogen impurity that were above an FDA limit. The recalls are labeled as Class II, which indicates potential temporary or reversible adverse health consequences, with low risk of serious outcomes.