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Hong Kong can attract more global biotech investments if the city builds up a new healthcare financial model, according to AstraZeneca, a Cambridge-based multinational pharmaceutical giant. While global drug makers have been doubling down on investments in mainland China in recent years, AstraZeneca brought over 60 clinical trials to the city and invested over HK$200 million (US$25.5 million) over the past three years. Hong Kong was still a key research and development hub for the firm, David...
Shares of Akeso surged after British drug maker AstraZeneca moved to advance the Chinese biotech firmโs flagship cancer drug, while a new deal from US giant Merck further underscored the sectorโs global momentum amid easing fears of US curbs. AstraZeneca on Tuesday announced a US$2 billion equity investment in Florida-headquartered Summit Therapeutics, which holds the exclusive rights to develop and commercialise Akesoโs immunotherapy drug ivonescimab outside China. Summit and AstraZeneca would...
Chinaโs edge in fast, cost-effective early clinical trials has propelled its emergence as a global biopharmaceutical powerhouse, but there is a risk that the United States could take steps to curb that advantage, according to analysts. US lawmakers and officials at the Food and Drug Administration (FDA) have raised the alarm about American pharmaceutical companiesโ growing reliance on conducting early clinical trials in China, flagging the opaqueness of the process and the need to keep medical...