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02

2023-02

You can’t have it all: being a CXO and developing innovative drugs.

China’s previous wave of innovative-drug enthusiasm reached a milestone with the approval and launch of several large-molecule biosimilars, only to cool off rapidly thereafter once these products were included in the national medical insurance scheme. The interim outcome of that boom was the listing of roughly 20 innovative-drug companies on the Hong Kong stock exchange, nearly all of which had PD-1 candidates in their pipelines. In this highly “me-too” market, regardless of whether a product is covered by insurance, as long as it delivers some clinical benefit, price becomes the sole metric for valuation. Among the rising stars—Xinda, Junshi Biosciences, and BeiGene—as well as the established player Hengrui Medicine, all core PD-1 products have since been added to the national reimbursement list. Yet in 2021, the combined sales of these four companies’ PD-1 products—about RMB 9 billion—still amounted to little more than a fraction of Merck’s PD-1 blockbuster Keytruda, which generated US$17.1 billion in revenue. Despite this, the aggregate market capitalization of these firms at one point surpassed Merck’s, clearly signaling a bubble.

2023-02-02

He Yousheng

21

2022-05

Analysis of Shanghai’s April Economic Performance

Due to the impact of the pandemic, Shanghai has implemented district-based static management since 5:00 a.m. on March 28, with the Huangpu River serving as the dividing line, until recently when enterprises began to resume work and production. On May 19, the Shanghai Municipal Bureau of Statistics released economic performance data for April. In April 2022, industrial enterprises above designated size in our city (hereinafter referred to as “industry”) recorded a total industrial output value of RMB 128.617 billion, a year-on-year decrease of 61.5%.

2022-05-21

He Yousheng

08

2022-05

A Trillion-Yuan Blue-Ocean Market: COVID-19 Antigen Self-Testing

To further optimize COVID-19 testing strategies in light of epidemic prevention and control needs, the Comprehensive Group of the State Council Joint Prevention and Control Mechanism has decided to promote a monitoring model of “antigen screening combined with nucleic acid diagnosis,” supplementing nucleic acid testing with antigen testing. On March 11, the Comprehensive Group issued the “Trial Implementation Plan for the Application of COVID-19 Antigen Testing” (hereinafter referred to as the “Plan”), requiring all localities to conscientiously organize and implement it.

2022-05-08

He Yousheng

08

2022-05

This is the best of times for biopharmaceutical CDMOs; this is the worst of times for biopharmaceutical CDMOs.

As another year draws to a close, a review of the domestic biopharmaceutical CDMO sector in 2021 reveals a remarkably dynamic and diverse landscape. Some companies have been acquired, others have secured substantial financing to expand production capacity, some have attracted equity investments from listed firms, while several listed pharmaceutical companies have embarked on strategic transformations to enter the biopharmaceutical CDMO business. A number of firms have already submitted IPO applications that have been accepted for review, others are currently undergoing pre-IPO guidance, and some local industrial parks have established dedicated biopharmaceutical CDMO platforms and awarded contracts to professional operators. Meanwhile, an increasing number of biopharmaceutical companies are venturing into the CDMO space. At present, the industry’s development can only be described as characterized by “intense internal competition” and “unprecedented prosperity.”

2022-05-08

He Yousheng

20

2021-08

The COVID-19 pandemic has fueled rapid growth in the domestic bio-reagent industry, with promising prospects for the future.

Life sciences is a discipline that investigates both the phenomena and the underlying principles of life. With the advancement of science and technology, human understanding of life has progressively evolved from a macroscopic perspective to the molecular and cellular levels, extending from the individual organism to tissues and subcellular structures. Biological reagents refer to the various chemical and biological materials used in life-science research; as consumable tools, they are extensively employed in scientific investigations and are characterized by a wide variety of types and large quantities. Based on their composition and intended applications, these reagents can be categorized into protein-based reagents (such as recombinant proteins and antibodies), molecular reagents (such as nucleic acids and vector enzymes), and cell-based reagents (such as cell lines, transfection reagents, and culture media).

2021-08-20

He Yousheng
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