A roundup of the latest news from Chinese pharma, including Big Pharma players losing out in the latest round of domestic procurement bidding, updates on Sinopharm’s experimental COVID-19 vaccine, biotech funding news, and Bayer and Hua Medicine’s diabetes collaboration.
Eli Lilly, Pfizer, Merck among Big Pharma losers in China’s latest round of procurement bidding
Several pharma giants—including Merck, Novartis, Eli Lilly and Pfizer—have just lost procurement deals in China under the country’s new bidding system.
The drugmakers lost out to domestic producers, which in some cases undercut prices for established medicines by more than 90%, according to Jiemian. Among the drugs to lose contracts were Eli Lilly schizophrenia medicine Zyprexa and Pfizer’s Viagra, the publication said.
China pharma company Sinopharm expects its experimental vaccine to be ready for mass public use by year end
A potential coronavirus vaccine being developed by a unit of China National Pharmaceutical Group (Sinopharm) could cost no more than 1,000 yuan (USD 144.27) for two shots, state media on Tuesday quoted chairman Liu Jingzhen as saying.
Sinopharm has said its experimental vaccine could be ready for public use by the end of this year. It has entered a late-stage human test in the United Arab Emirates to gather proof of efficacy for final regulatory approvals.
Lilly and Innovent Announce Global Expansion of TYVYT Licensing Agreement
Lilly and Innovent currently co-commercialize TYVYT in China. Under the terms of the expanded license agreement, Lilly will obtain an exclusive license for TYVYT for geographies outside of China and plans to pursue registration of TYVYT in the U.S. and other markets. In return, Innovent will receive an upfront payment of $200 million and will be eligible for up to $825 million in potential development and commercial milestones, as well as tiered double-digit royalties on net sales.
LIDDS licensee, Puheng Pharma, evaluates a novel expeditated regulatory path for Liproca Depot in China
LIDDS AB (publ) announces that its licensee Jiangxi Puheng Pharma is currently preparing documentation for an application targeting a newly issued regulatory guideline in China on conditional market approval (CMA) for the prostate cancer drug candidate Liproca® Depot. CMA is the approval of a medicine that addresses patients’ unmet medical needs based on less comprehensive data than is normally required.
JW Therapeutics Files for Hong Kong IPO to Develop Pipeline of Cancer Treatments
JW Therapeutics, a joint venture between American biopharmaceutical company Juno Therapeutics and Chinese CRO giant WuXi AppTec, filed a draft prospectus with the Hong Kong Stock Exchange.
LP Pharma raises USD 72 million Series C funding led by Sequoia Capital
Established in 2012, Xiamen-based LP Pharmaceuticals produces new generation drugs based on its proprietary delivery platforms including mucosal and oral controlled releases.
Bayer to commercialize Chinese biotech Hua Medicine’s lead candidate for diabetes type 2, dorzagliatin, in China
Dorzagliatin is an investigational first-in-class, dual-acting glucokinase activator, designed to control the progressive degenerative nature of diabetes by restoring glucose homeostasis in patients with Type 2 Diabetes. The agreement aims to provide Chinese diabetes patients with access to a new treatment option, building on Bayer’s existing strength and leadership in diabetes management in China and the innovation capabilities of Hua Medicine.
