As Chinese development assets gain attention from biopharmaceutical traders, some industry watchers want to curb the trend before the U.S. loses a major biotech capability. Amid these discussions, it was no surprise that Pfizer signed a surprising development agreement with Innovent for 12 cancer drugs. And Astellas Pharma, facing a major patent cliff, is telling investors how it plans to adapt. Even more.
1. As calls for expansion of the COINS law grow, will the new rules expand China’s biotechnology licenses across the board?
China’s increasing share in drug development has recently become a hot topic in the life sciences field, and some in the United States are trying to reverse this trend. Some industry watchers are calling on the U.S. Treasury Department to include biotechnology in the ongoing implementation of the COINS Act. As it stands, the law aims to prohibit or require notification of U.S. investments in sensitive foreign sectors. This discussion led to a lively debate about how to approach the rise of China’s industry.
2. Pfizer bets broadly on China’s cancer drug innovation, signing $10 billion deal with Innovent for 12 drugs
Pfizer is once again capitalizing on Chinese biotech development, this time paying Innovent $650 million up front and providing $9.85 billion in development, regulatory and commercial milestones to license 12 cancer candidates. The companies said in a May 28 post-marketing release that the licensed portfolio features “antibody-drug conjugates with novel differentiated payloads and multispecific antibodies with differentiated immune engagement functions and unique designs.” The agreement follows a similar agreement between Bristol-Myers Squibb and Hengrui Pharma two weeks ago. As for Pfizer, the company signed licensing agreements with Chinese biopharmaceutical companies 3SBio and YaoPharma last year.
As Astellas Pharma envisions its near- to mid-term future, it is bracing for a significant drop in revenue from its blockbuster prostate cancer drug Xtandy, partnered with Pfizer, whose patent is about to expire. The company plans to ramp up its licensing efforts and continue to control spending over the next few years to address the Xtandi situation. Astellas Pharma may eventually pursue a major acquisition, but such deals will not be “pursued by default,” according to a multi-year strategic plan released this week.
Amid the challenging geopolitical climate surrounding biopharmaceutical investment and capacity, a group of industry leaders met with Japanese Prime Minister Sanae Takaichi this week to highlight the actions needed to strengthen the industry’s regional footprint. Despite the country’s storied pharmaceutical history, Japan is “experiencing a structural decline in its share of global pharmaceutical R&D investment,” according to a press release from the international industry group. Key policy priorities include increasing investment in innovative medicines, the group said.
Akeso and Summit Therapeutics’ ivonescimab has been getting all kinds of attention in the lead-up to FDA approval, and the plenary session of oncology’s biggest event is once again putting the drug in the bright spotlight. At this weekend’s ASCO Annual Meeting, researchers plan to share overall survival results from the phase 3 Harmoni-6 trial. Ibonescimab is the first Chinese-developed asset to be featured in ASCO’s plenary session.
South Korea’s SK Biosciences aims to expand globally, and the company has signed an agreement with the Colombian government to allow local government-backed pharmaceutical company VECOL to manufacture its chickenpox vaccine. The project could eventually expand to include other products and is expected to involve up to $260 million in investment over 10 years.
