Generic drugmakers will face import tariffs in the U.S., President Donald Trump announced this week. Samsung Biologics is pursuing the biggest M&A deal ever for a Korean biopharma company. In an unconventional move, a U.S. biotech is gunning for an IPO in Hong Kong first. And more.
1. Trump floats countdown to 200% tariffs on generic drugs imported to US
The U.S. will implement a 100% tariff on generic drug imports beginning in August of 2028, after which it will be raised to 200% the following year, President Donald Trump declared on social media. According to a person familiar with the matter, the policy will apply to both finished drugs and API. While generic makers don’t have to sign formal deals with the White House, they have a two-year window to reshore production before tariffs kick in, the person said.
2. Samsung Biologics spreads wings with proposed $1.8B acquisition of Swiss CDMO PolyPeptide
In the biggest acquisition on record by a Korean biopharma company, Samsung Biologics will buy Swiss CDMO PolyPepide for 1.46 Swiss francs ($1.8 billion). The deal “reinforces our long-term growth strategy by not only broadening our service portfolio with modality expansion into peptides including GLP-1, but by also boosting our geographic reach,” Samsung Biologics CEO John Rim said.
3. ‘There is always a first’: Why US biotech Axiom will begin its IPO journey in Hong Kong
In a first for a U.S. biotech, Axiom Biosciences plans to go public on the Hong Kong Stock Exchange first, followed by a double listing on the Nasdaq. The company’s international investor pool, coupled with a partnership with Korea’s Medinno on its lead cell therapy for two fatal newborn neurological diseases, made the Hong Kong listing an easy choice, CEO Remo Moomiaie-Qajar, M.D., said.
4. ‘Substantially better than before’: Why India has golden opportunity to build on innovative R&D wins
India has seen some “green shoots” of biotech innovation, with more than 10 novel assets by local drugmakers over the past decade, according to a new report from HealthKois and Boston Consulting Group. India’s annual pharma R&D spend, at around $2 billion to $3 billion, continues to lag that of other countries, but the Indian government is funding emerging technologies.
5. Why Legend Biotech stock fell 10% despite record Carvykti sales
J&J’s bispecific combo slashes myeloma progression risk by 89% in phase 3 trial
After Johnson & Johnson reported record Carvykti sales and strong growth, its partner Legend Biotech’s shares tanked 10% on July 15. Investors were likely rattled by comments that J&J’s innovative medicine chief, Jennifer Taubert, made during the earnings call, where she described the company’s alternative bispecific Tecvayli as holding “the potential for cure.” Then this week, J&J reported the doublet of Tecvayli and Talvey improved progression-free survival by 89% and overall survival by 62% compared with standard of care in previously treated multiple myeloma. However, the company indicated that this combo won’t be a major threat to Carvykti.
6. Summit Therapeutics updates ivonescimab survival data ahead of FDA decision date
Summit Therapeutics offered another look at the overall survival data in the Western population of the phase 3 HARMONi trial for Akeso-partnered ivonescimab. At a data cut-off in June 2026, the OS hazard ratio in that subgroup improved to 0.76, matching the overall trial population. While the data do not bear statistical significance, Summit has shared them with the FDA amid an ongoing review in previously treated EGFR-mutated non-small cell lung cancer.
Other News of Note:
7. Takeda’s zasocitinib proves ‘top-notch’ for difficult-to-treat psoriasis in phase 3 update
8. Roche Diagnostics growth remains muted amid China headwinds
9. Huahai poaches quality chief from Hengrui amid FDA manufacturing citations
10. China 1st to endorse Takeda's narcolepsy drug (Regulatory tracker)
11. A Fatal Reaction—A cutting-edge gene-editing trial in China went disastrously wrong (Science)
12. Indian generics maker Lupin seeds US spinout Kaveri with cash, clinical-phase cancer assets
13. Alembic site slapped with FDA warning letter over patient consent concerns
14. FDA rebukes 2 Indian API plants over data controls, sanitation issues
15. Jasper finds new purpose in merger with Kira, while offloading Tavneos rival to Mirador