Eisai plans to lay off 121 employees in the U.S. A former deputy director of China's drug agency is under investigation by anti-corruption authorities. Pfizer has formed a clinical trial collaboration with Akeso's partner Summit Therapeutics. And more.
1. Eisai to part ways with 121 employees amid new US restructuring effort
Eisai is launching a strategic restructuring in the U.S. and plans to lay off 121 employees, or nearly 7% of the company’s U.S. workforce, across various functions. The reductions will primarily affect commercial, medical and corporate service functions. The Japanese pharma, maker of Alzheimer’s disease med Leqembi, remains “fully committed” to the U.S. market, a company spokesperson said.
2. China puts former NMPA deputy director under investigation (China Daily)
China’s top anti-corruption watchdogs unveiled an investigation into Chen Shifei, former deputy director of China’s National Medical Products Administration (NMPA). Chen rose to that position in 2018 when China replaced the former CFDA with the NMPA. He oversaw the agency’s regulation of drugs, including the Center for Drug Evaluation, until his retirement in 2022. Chen’s predecessor, Wu Zhen, was sentenced to 16 years in prison over corruption charges following the high-profile Changchun Changsheng vaccine scandal.
3. Pfizer to test Summit's white-hot bispecific with ADCs
In a clinical trial collaboration, Pfizer plans to test its antibody-drug conjugates with Summit Therapeutics’ Akeso-partnered PD-1xVEGF bispecific ivonescimab. However, Summit’s stock price dropped after the news, as investors were likely disappointed in the lack of a deeper commitment from Pfizer.
4. Takeda fronts $46M for 2nd small molecule collab with BridGene
Following a five-program collaboration penned in 2021, Takeda has returned to BridGene Biosciences for another deal focused on immunology and neurology targets. For $46 million in combined upfront and preclinical milestone payments, plus up to $724 million in additional milestones, Takeda gets exclusive rights to develop and commercialize any drugs identified from the discovery phase.
5. BeiGene fleshes out global ambition as Brukinsa surpasses AstraZeneca's Calquence in quarterly sales
The percentage of China sales in BeiGene’s overall business keeps decreasing. Last year, the U.S. made up 51.4% of BeiGene’s total annual revenue of $3.8 billion, compared with 37% from China. In 2023, the numbers were nearly even at 45.9% and 44.8%, respectively. The company aims to be a more global enterprise through a series of recent moves.
6. J&J takes Samsung Bioepis to court over claims Korean company breached Stelara biosim settlement
Just as Samsung Bioepis’ partner Sandoz launched a biosimilar to Johnson & Johnson’s Stelara, the Korean company is facing a lawsuit from the Big Pharma company accusing it of violating a settlement. In the lawsuit, J&J said Samsung Bioepis breached its contract by attempting to sublicense another biosimilar in addition to the Stelara biosimilar that it’s allowed to launch.
7. Merck to increase its workforce in India, exec says (Reuters)
Merck & Co. plans to increase the size of its workforce in India to about 2,700 employees by the end of the year, compared with about 1,800 now, the company’s chief information and digital officer Dave Williams said at the BioAsia conference. The U.S. pharma just opened a new technology center in the Indian city of Hyderabad.
Other News of Note:
8. Silence slows phase 3 plans for cardio drug, as Hansoh opts out of $1.3B biobucks collab
9. Harbour offshoot pens $395M biobucks deal for preclinical rival to Neurocrine's Crenessity
11. India’s Granules makes $22M play for Senn Chemicals to enter peptides CDMO business
12. OS Therapies sets up subsidiary to seek ADC joint ventures with US, China peers