Biotech & Genomic Medicine

Danish pharmaceutical giant Novo Nordisk said on the 27th that Chinese drug regulators have accepted its application for the oral version of its obesity treatment Wegovy. The company is trying to catch up with rival Eli Lilly in the world's second-largest pharmaceutical market. Eli Lilly, which is ahead in China, announced in March that it had submitted an application for marketing approval for Orforglipron to Chinese regulators by the end of 2025, and company executives have said it could be launched in China as early as this year. Novo was asked for comment on how long approval for Wegovy might take, but as it was outside business hours, no response has been received so far.

Veeva Systems reported a record second quarter for fiscal 2027, with total revenue of $928 million and non-GAAP operating income of $416 million, both exceeding guidance. The company achieved its best-ever CRM quarter, with two TOP20 biopharma customers, Lilly and Biogen, selecting Vault CRM, bringing the total to 12 of TOP20. Veeva Falcon, its agentic AI product, is generating high customer interest, with early adopters showing promising results and faster implementation. Commercial subscription revenue grew 13% year-over-year, with broad-based strength across CRM, content, data, and Crossix. The company also highlighted progress with its Aspen product, priced at $50 per user per month, and its partnership with IQVIA, which CEO Peter Gassner called one of the best things to happen to Veeva in the past 12 months.

Junshi Biosciences announced its 2026 interim financial results, reporting total revenue of approximately RMB1,696 million for the first half of 2026, a 45% increase year-over-year, driven by higher sales of pharmaceutical products. Domestic sales of its core product toripalimab reached approximately RMB1,299 million, up 36%, while out-licensing revenue rose 149% to approximately RMB152 million. The company turned profitable, with profit attributable to owners reaching RMB26 million, a swing of approximately RMB439 million from the prior year, and excluding share-based payment effects, profit was RMB153 million. R&D expenses totaled approximately RMB644 million, and the company ended the period with cash and financial products of approximately RMB3,670 million, bolstered by a RMB1,000 million net cash inflow from its 2026 first tranche of technology innovation bonds. In business updates, the company highlighted regulatory approvals for toripalimab in multiple countries, a licensing deal with Fosun Wanbang for roconkibart in Greater China, and a collaboration with the Institute of Microbiology, Chinese Academy of Sciences for a dengue vaccine.

Abbott Laboratories received FDA De Novo authorization for its Libre Duo 10 Day, the first dual glucose ketone monitoring wearable for U.S. patients, cleared for people with diabetes as young as age 2. The device supports real-time tracking of both glucose and ketone levels, aiming to help address diabetic ketoacidosis risk. Abbott plans to integrate Libre Duo 10 Day with leading insulin pump systems in the U.S. over the coming years, extending its FreeStyle Libre franchise into dual-analyte sensing and deeper software integration. The company, with a market cap of about $200.9 billion, sees this as part of its broader diagnostics and digital health offering, though analysts note potential pricing and reimbursement scrutiny and competition from Dexcom and Medtronic.

Agilent Technologies raised its full-year fiscal 2026 earnings per share guidance to $6.18 to $6.21, excluding the net benefit of tariff refunds, earnings per share of $6.12 to $6.15 are now expected, after reporting third-quarter revenue of $1.88 billion, up 7.3% on a core basis, with China growing 9% despite minimal stimulus benefit. The company now expects full-year revenue of $7.49 billion to $7.51 billion, implying fourth-quarter revenue of $1.98 billion to $2 billion and EPS of $1.71 to $1.74. CEO Padraig McDonnell cited strong pharma growth of 12%, advanced therapeutics growth of nearly 30%, and competitive wins in China, while CFO Adam Elinoff noted Biocare contributed $10 million in Q3 and about $23 million in Q4 guidance. Management also highlighted a reshoring opportunity sized at about $1 billion through 2030, with orders secured from five of the top ten pharma companies, and expects revenue from reshoring to begin in fiscal 2027.

The U.S. Food and Drug Administration (FDA) on the 26th approved the pancreatic cancer treatment drug "Daraxonrasib," developed by the American biopharmaceutical company Revolution Medicines. It is a once-daily oral tablet that is expected to be a groundbreaking new drug that doubles patient survival time. Pancreatic cancer is difficult to detect and progresses rapidly. An FDA official noted that the approval "provides a new option for patients with cancers that were previously difficult to treat."

Eli Lilly has secured FDA approval for a new Alzheimer's blood test developed with Roche, which can help identify signs of the disease in adults 55 and older experiencing cognitive decline. The test, called Elecsys pTau217, measures a biomarker associated with Alzheimer's-related brain changes and is designed to help physicians determine whether patients are likely or unlikely to have those changes, though it is not intended as a standalone diagnosis. The approval broadens Lilly's exposure beyond its obesity and diabetes franchises and could make Alzheimer's testing more accessible by reducing reliance on costly brain scans and invasive spinal-fluid testing. More than 4,500 Roche laboratory analyzers already installed across the U.S. can run the test, potentially allowing hospitals and clinics to adopt it without major new infrastructure investment. The FDA decision follows European approval in May, and Lilly shares were down about 2% on August 26 amid a broader market decline despite the approval.

Johnson & Johnson won the first FDA approval for a treatment specifically targeting warm autoimmune hemolytic anemia, but the stock slipped about 1% to $270.665 as investors weighed the commercial challenge. The drug, Imaavy, is now cleared for steroid-exposed adults and patients aged 12 or older with the rare blood disorder. In a trial of 115 adults, patients on Imaavy were roughly three times more likely than placebo recipients to achieve sustained hemoglobin improvement after 24 weeks, with an average increase of one gram per deciliter after the first week. Already approved for generalized myasthenia gravis, Imaavy opens a second market for J&J, which posted $25.3 billion in second-quarter sales and raised its annual revenue midpoint to $101.1 billion. The stock trades 40.49% above its GF Value of $192.66, reflecting high expectations, and adoption, reimbursement, and further approvals will determine whether the drug boosts earnings.

Roche announced that the FDA has approved expanded use of its PATHWAY HER2 (4B5) and VENTANA HER2 Dual ISH DNA Probe Cocktail tests as companion diagnostics to identify patients with HER2-positive metastatic gastroesophageal adenocarcinoma, including gastric, gastroesophageal junction, and esophageal adenocarcinoma, who may be eligible for treatment with Jazz Pharmaceuticals' ZIIHERA. This approval broadens the patient population eligible for HER2-targeted therapy, as previously no tests were approved to determine HER2 status in esophageal cancer. The tests, already widely used in breast and gastric cancers, are now part of Roche's comprehensive HER2 diagnostic portfolio, supporting personalized treatment approaches for this hard-to-treat disease.

Gilead Sciences has snapped out of its slump, with shares surging from around $130 to $146 following its Q2 2026 earnings release on Aug. 4. The biotech reported $7.8 billion in sales, up 10% year over year and ahead of forecasts, but recorded a net loss of $8.45 per share due to in-process R&D charges from acquisitions including Arcellx. Investors focused on the HIV drug portfolio, where PrEP medicines hit over $1 billion in quarterly sales for the first time, with Descovy sales rising 48% and Yeztugo jumping from $15 million to $232 million. Management expects continued growth, with Yeztugo potentially reaching blockbuster status, and forecasts call for 2027 earnings between $9.19 and $11.10 per share, putting Gilead at 13 to 16 times forward earnings versus Amgen's nearly 20 times.

Merck shares reached a fresh 52-week high yesterday, driven by investor confidence in its long-term growth prospects, pipeline progress, regulatory approvals, and recent acquisitions. The rally follows positive top-line data from the phase III INTerpath-001 study, which evaluated Merck and Moderna's personalized cancer therapy combo in high-risk melanoma patients, meeting its primary endpoint of recurrence-free survival and key secondary endpoint of distant metastasis-free survival. Merck's biggest revenue driver, Keytruda, recorded sales of $16.40 billion in the first half of 2026, up nearly 4.2% year over year, with its subcutaneous formulation Keytruda Qlex contributing $590 million. The company's newer products, including Winrevair, Capvaxive, and Welireg, have shown encouraging growth, and recent approvals include the RSV antibody Enflonsia, Idvynso, and Lipfendra. Merck also strengthened its pipeline through the 2025 acquisition of Verona Pharma and the 2026 buyouts of Cidara Therapeutics and Terns Pharmaceuticals, and it expects more than $70 billion of potential non-risk-adjusted commercial opportunity from its current pipeline by the mid-2030s, more than double the peak consensus sales estimate for Keytruda of $35 billion in 2028. Year to date, Merck shares have rallied 50.9%, outperforming the industry's 19.9% rise, though the stock trades at a premium with a forward P/E of 21.33 versus the industry's 19.44.

Vertex Pharmaceuticals Incorporated stock has risen 15.4% in a month, driven by strong second-quarter results, higher 2026 guidance, and growing confidence in its post-cystic fibrosis growth story. The company reported second-quarter revenues of $3.33 billion, up 12% year over year, and raised its full-year revenue outlook to $13.1-$13.2 billion from $12.95-$13.1 billion previously. Earnings of $4.73 per share rose around 5% year over year. Vertex's CF products generated revenues of $6.1 billion in the first half of 2026, up 8.4% year over year, with Alyftrek sales of $573.6 million in the second quarter, up 35% sequentially. Non-CF products, including Journavx and Casgevy, are gaining traction, with combined second-quarter sales of $126 million, and the company expects non-CF revenues to exceed $500 million in 2026, up about 185% year over year. Vertex's renal pipeline, including povetacicept for IgAN, is advancing, with an FDA decision expected by Nov. 30, 2026. The stock trades at 27.52 forward earnings, above the industry's 19.44, and the Zacks Consensus Estimate for 2026 earnings has declined to $19.01 per share over the past 30 days. In July 2026, Vertex agreed to acquire Crinetics Pharmaceuticals for about $10 billion, adding rare endocrine diseases as a fifth pillar. Despite headwinds, Vertex remains a Zacks Rank #3 (Hold) stock, with long-term investors advised to retain it.

BenchSci announced a strategic, multi-year initiative establishing Google Cloud as the primary infrastructure platform for EMET, its agentic research environment for preclinical drug discovery. The combined solution gives pharmaceutical scientists unified access to BenchSci's proprietary biological knowledge graph—858 million nodes, 2.2 billion relationship edges, and legal access to 16 million closed-access scientific papers—alongside Google's frontier life sciences AI models, including AlphaGenome and AlphaFold 3, within a single environment. BenchSci reports that 70% of drugs fail in the clinic due to fragmented data, and scientists spend half their time manually integrating disparate sources. The majority of the top 20 pharmaceutical companies by revenue are existing BenchSci customers, with 80% of users reporting 60% efficiency gains and some teams achieving up to 50x time savings. BenchSci is also working to integrate EMET into the Google Cloud Marketplace for simplified access and billing.

The global atrial fibrillation treatment devices market is projected to grow from USD 9.6 billion in 2026 to USD 29.0 billion by 2035, at a compound annual growth rate of 13.1%, according to a new report from ResearchAndMarkets.com. The market expansion is driven by the rising prevalence of atrial fibrillation, an aging population, and increasing adoption of advanced ablation and left atrial appendage closure technologies. Ablation catheters are expected to account for approximately 75% of market revenue, while the left atrial appendage closure segment is projected to grow at a CAGR of 13.4%, the fastest among device types. Pulsed field ablation is forecast to generate more than 60% of total market revenue by 2035. North America is projected to retain close to 50% of global revenue, while Asia-Pacific is expected to register the fastest regional growth. Key players include Abbott, AtriCure, Boston Scientific, Johnson & Johnson, and Medtronic.

BridgeBio Pharma has dosed the first participant in ASCEND-ATTR, a Phase 3b/4 study evaluating the long-term effects of acoramidis on cardiac structure, function, and amyloid burden in patients with transthyretin amyloid cardiomyopathy (ATTR-CM). The single-arm, open-label study will enroll approximately 150 participants and use annual cardiac MRI and echocardiography over 36 months, with the primary endpoint being improvement in left ventricular systolic function at month 36. This follows earlier Phase 3 ATTRibute-CM data suggesting acoramidis may reverse disease progression and restore heart health. Additional data from the ATTRibute-CM CMR substudy and its open-label extension will be presented at the ESC Congress 2026.

Daiichi Sankyo and AstraZeneca have dosed the first patient in the TROPION-Urothelial04 phase 3 trial, evaluating Datroway plus rilvegostomig or Datroway monotherapy versus current standard of care as adjuvant treatment for patients with high-risk muscle invasive urothelial cancer. The trial will enroll approximately 915 patients across Asia, Europe, North America, Oceania, and South America, with disease-free survival as the primary endpoint. This is the second pivotal trial for Datroway in urothelial cancer, following encouraging results from earlier studies. Muscle invasive urothelial cancer represents about 30% of all urothelial cancer cases, and there are currently no TROP2-directed medicines approved for this disease.

Alebund Pharmaceuticals announced its 2026 interim results, reporting a 761.2% surge in revenue to RMB104.2 million, driven by licensing revenue of RMB79.3 million from its AP306 deal with R1 Therapeutics and Mircera sales of RMB24.8 million, up 105% year-on-year. The company's net loss narrowed 22.5% to RMB162.6 million, while adjusted net loss fell 12.6% to RMB130.1 million. During the period, Alebund completed enrollment in the global Phase III trial for AP301, and the NMPA accepted its New Drug Application for review in August 2026. The company also listed on the Hong Kong Stock Exchange in June, raising net proceeds of approximately HK$1,355.8 million, including the over-allotment option. Cash and equivalents stood at RMB1,392.8 million as of June 30, 2026.

Eli Lilly and Company announced results from a real-world study showing that sustained use of Zepbound (tirzepatide) in adults over 55 with overweight or obesity lowers healthcare costs over time, driven partly by fewer hospital admissions and emergency department visits. The first-of-its-kind study, published in Diabetes, Obesity and Metabolism, found that at six months, costs were up to 15% lower (up to $181 per patient per month), and by 12 months, the difference widened to up to $607 per patient per month, reflecting on average 38% lower costs than untreated adults. These savings nearly covered the Medicare GLP-1 Bridge program's monthly treatment cost of $195 per patient per month starting at six months, and exceeded the cost of Zepbound treatment by 12 months. The analysis included 15,843 adults with a mean age of 64.5 years, and used two methods that both showed consistent results. Ilya Yuffa, president of Lilly USA, said the evidence highlights the impact of treating obesity on older patients and the healthcare system, and should help shape coverage decisions as Medicare and other payers expand access.

The Ministry of Health, Labour and Welfare announced on the 26th its budget request for fiscal 2027, with a total general account of 36.58 trillion yen, up 4.4% from the initial budget for fiscal 2026, marking a record high. The increase is driven by rising social security costs due to an aging population. The ministry is prioritizing the strengthening of drug discovery and advanced medical care, and will begin supporting companies that develop innovative new drugs. Wage increases for care workers are listed as a "matter request" without specifying amounts, with the intention to finalize details during the budget formulation process at the end of the year.

BioArctic reported its interim results for the second quarter of 2026, highlighting new approvals for Leqembi and strategic partnerships. The company entered into a research collaboration with Eli Lilly, receiving an upfront payment of USD 30 million, with the agreement worth up to USD 800 million plus royalties. Additionally, the FDA approved Leqembi Iqlik subcutaneous autoinjector for weekly initiation treatment in early Alzheimer's disease, leading to a US launch in August. BioArctic also entered into a research collaboration in oncology with the Swedish biotech company Mesenkia Therapeutics to explore a novel antibody-based treatment for glioblastoma. Net revenues for the quarter amounted to SEK 247.5 million, with royalty income from Leqembi at SEK 179.4 million, while operating profit was SEK -6.5 million and earnings per share before dilution were SEK -0.13.

Pfizer and Valneva announced that the European Medicines Agency has validated the Marketing Authorization Application for their Lyme disease vaccine candidate, PF-07307405, initiating the regulatory assessment process for what could become a first-in-class vaccine for the disease in North America and Europe. The application is backed by Phase 3 efficacy data, with the companies highlighting an unmet medical need in Lyme disease prevention. This development is part of Pfizer's broader strategy to address widespread infectious diseases, complementing its existing vaccine portfolio. Investors should monitor the EMA's review milestones, including committee opinions and formal decisions expected into 2027, as well as any disclosures on manufacturing readiness and uptake expectations for the vaccine.

CSPC Innovation Pharmaceutical Co., Ltd. announced that SYS6010, developed by its controlling subsidiary CSPC Megalith Biopharmaceutical Co., Ltd., successfully met the primary endpoint of progression-free survival in the Phase III clinical study SYNSTAR-01 for EGFR-mutant locally advanced or metastatic non-small cell lung cancer after failure of EGFR TKI therapy, as assessed by the independent data monitoring committee. PFS was significantly superior to the current treatment regimen, with statistically and clinically significant differences and a favorable safety profile. SYS6010 is an antibody-drug conjugate targeting EGFR, composed of a humanized anti-EGFR monoclonal antibody linked via a cleavable linker to a topoisomerase I inhibitor payload. Lung cancer ranks first in incidence and mortality among malignant tumors in China, with approximately 1.176 million new cases in 2024. Non-small cell lung cancer accounts for about 85 percent, of which EGFR-mutant patients represent roughly 40 to 50 percent. The company stated that the drug must obtain review and approval from the National Medical Products Administration before it can be marketed and sold, with no significant impact on performance in the short term, and uncertainties remain regarding subsequent development and approval for marketing.

Overnight in the US market, mRNA vaccine maker Moderna saw its share price jump 14.36 percent, lifting vaccine sectors in both A-shares and Hong Kong stocks. On August 26, A-share CanSino Biologics hit the daily limit up, Wantai Biological Pharmacy also hit the daily limit up, while Zhifei Biological Products and Walvax Biotechnology rose more than 6 percent. In Hong Kong, CanSino Biologics surged more than 20 percent. Earlier, Moderna and Merck jointly announced that their personalised mRNA cancer vaccine met the primary endpoint in a Phase III clinical trial, making it the world's first personalised neoantigen therapy to deliver a positive result. Chinese companies such as CanSino Biologics have already announced plans to develop personalised mRNA tumour vaccines. However, the vaccine currently targets only melanoma, and its production cost is relatively high, so it is still some distance from being widely available to ordinary patients. Industry insiders estimate that its cost is lower than cell therapy but higher than ordinary antibody drugs, and China's mRNA cancer vaccine development remains in the early clinical stage.

On the morning of August 26, CanSino Biologics hit its 20 percent daily price limit just 48 seconds after the market opened, boosting activity across the pharmaceutical and biotech sector. After the close on the previous day, CanSino announced that its subsidiary CanSino Shanghai had signed a strategic cooperation framework agreement with Dephios Bio to co-develop a personalized therapeutic mRNA cancer vaccine. The two sides will combine their respective strengths in mRNA vaccine technology and tumor neoantigen discovery and design to jointly advance the vaccine's development and commercialization. The collaboration is global in scope and focuses on gastrointestinal solid tumors and rare tumor treatment. A representative from CanSino's securities department said the vaccine is still in the early research stage and commercialization will take a long time. A research note from Sinolink Securities pointed out that China's mRNA industry landscape has taken shape, but therapeutic mRNA products overall remain in early clinical stages.

On the morning of August 26, China's three major A-share indexes were mixed, while the pharmaceutical and biotech sector was active, with CanSino Biologics surging by the 20 percent daily limit. In terms of news, CanSino Biologics announced that its subsidiary CanSino Shanghai and Depushi Hangzhou Biotechnology Company Limited signed a strategic cooperation framework agreement for the joint development of mRNA personalized therapeutic cancer vaccines. The two sides will jointly advance the research, development, and commercialization of mRNA personalized therapeutic cancer vaccines, focusing on gastrointestinal solid tumors and rare tumor treatment areas. In addition, Hansen Pharmaceutical rose by the daily limit for the sixth consecutive day, while Qianjin Pharmaceutical, Yibai Pharmaceutical, and Wantai Biological Pharmacy also hit their daily limits. In the Hong Kong market, stocks fluctuated higher, with the Hang Seng Tech Index rising more than 1 percent, and XPeng, NIO, and Alibaba among the top gainers.

Asieris Pharmaceuticals announced that its controlling subsidiary Jiangsu Beilian Biotechnology received a Drug Clinical Trial Approval Notice issued by the National Medical Products Administration. Its independently developed APL-2501, with the compound name BLB101, has been approved to conduct clinical trials for advanced solid tumors. The drug is an anti-CLDN6/9 antibody-drug conjugate and is expected to be used for treating various advanced solid tumors including ovarian cancer and non-small cell lung cancer. This approval has no significant impact on the company's near-term performance.

Chengdu HitGen released its 2026 interim report on August 26. During the reporting period, the company achieved operating revenue of 346 million yuan, up 52.41 percent year on year. Net profit attributable to the parent company was 80.68 million yuan, up 61.21 percent. Net profit after deducting non-recurring items was 76.98 million yuan, up 42.80 percent. The performance growth was mainly driven by a recovery in global demand for innovative drug research and development and strong growth across business segments. The DEL business, as the cornerstone, recorded revenue of 166 million yuan, up 62.14 percent year on year, with gross margin maintained at 77.43 percent. The OBT segment posted revenue of 54.03 million yuan, a sharp increase of 94.03 percent. The FBDD and SBDD segment led by the UK subsidiary Vernalis recorded revenue of 85.09 million yuan, up 30.43 percent. In addition, Motian Intelligence, which was consolidated as a controlling stake at the end of 2025, contributed data service revenue of 15.44 million yuan, becoming a new growth driver. The company's net cash flow from operating activities was 121 million yuan, up 9.44 percent year on year. However, affected by the appreciation of the renminbi, the company incurred exchange losses of about 14.17 million yuan during the period. Looking ahead, the company faces exchange rate fluctuation risks and goodwill impairment pressure, and needs to monitor the order conversion efficiency of the DEL and OBT segments as well as the clinical progress of proprietary pipeline projects such as HG146.

Chengdu HitGen released its 2026 half-year report. First-half net profit attributable to the parent was 80.68 million yuan, up 61.2% year on year. Operating revenue was 346 million yuan, up 52.4% year on year. Net profit attributable to the parent after deducting non-recurring items was 76.98 million yuan, up 42.8% year on year. Net operating cash flow was 121 million yuan, up 9.4% year on year. Earnings per share were 0.2013 yuan. In the second quarter, operating revenue was 185 million yuan, up 54.2% year on year, and net profit attributable to the parent was 39.18 million yuan, up 80.1% year on year. As of the end of the second quarter, total assets were 1.995 billion yuan, up 2.1% from the end of the previous year, and net assets attributable to the parent were 1.526 billion yuan, up 1.6%. During the reporting period, all business segments achieved growth. DEL business revenue was 166 million yuan, up 62.14% year on year. FBDD and SBDD platform revenue was 85.09 million yuan, up 30.43% year on year. OBT segment revenue was 54.03 million yuan, up 94.03% year on year. TPD segment revenue was 8.46 million yuan, up 12.25% year on year.

Huadong Medicine announced that its wholly-owned subsidiary Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. has received Fast Track designation from the U.S. FDA for its self-developed injectable HDM2005, intended for the treatment of relapsed or refractory mantle cell lymphoma. This drug is the first ROR1-targeting antibody-drug conjugate in development in China to receive this designation, and clinical development is currently underway across multiple indications for malignant tumors.

Yiling Pharmaceutical announced that its wholly-owned subsidiary Wanyang Hengshui Pharmaceutical Co., Ltd. has received a Certificate of Suitability to the European Pharmacopoeia, known as a CEP certificate, for the letrozole active pharmaceutical ingredient from the European Directorate for the Quality of Medicines and HealthCare. The certificate number is CEP-2026-058-Rev 00. Letrozole is a highly effective, selective non-steroidal aromatase inhibitor that works by suppressing estrogen synthesis and is used in the treatment of breast cancer, mainly as adjuvant therapy for postmenopausal hormone receptor-positive breast cancer and for the treatment of advanced breast cancer. Obtaining the CEP certificate indicates that this active pharmaceutical ingredient is qualified to enter the European Union and other markets that recognize CEP certificates in the form of an active pharmaceutical ingredient. The company stated that this approval will have a positive impact on further expanding its international market, while also noting that pharmaceutical production and sales are subject to uncertainties arising from factors such as industry policies and the market environment.

On August 26, the biologics sector rose 3.27% intraday, with CanSino Biologics up 20.00%, Zhifei Biological up 13.73%, Walvax Biotechnology up 10.06%, Weiguang Biological up 10.02%, and Wantai Biological Pharmacy up 10.00%. In news, Fosun Pharma disclosed its 2026 interim report on the evening of August 25. During the reporting period, it achieved revenue of 20.442 billion yuan, up 4.75% year on year; net profit attributable to the parent company was 1.721 billion yuan, up 1.15% year on year; net profit attributable to the parent company after deducting non-recurring items was 1.144 billion yuan, up 19.09% year on year; and net cash flow from operating activities was 2.424 billion yuan, up 13.59% year on year. During the reporting period, Fosun Pharma's innovative drugs entered a period of intensive approvals and monetization, with a total of 7 innovative drugs approved for 20 indications in domestic and overseas markets, forming differentiated competitive advantages in the solid tumor field. A research report from Donghai Securities pointed out that in 2026, the innovative drug industry chain has entered a period of performance explosion. In the first quarter, the sector's net profit grew 7.13% year on year. The country has for the first time positioned biomedicine as an emerging pillar industry, and has introduced full-chain support policies including independent pricing for innovative drugs and commercial insurance payment. Combined with full-year business development transaction value expected to exceed 200 billion US dollars, domestic innovative drug companies are becoming an important force in global pharmaceutical innovation.

WuXi XDC Cayman Inc reported a 37% revenue increase to RMB3.7 billion for the first half of 2026, with adjusted net profit exceeding RMB1 billion for the first time. The company's service backlog grew over 50% to nearly $2 billion, and total backlog including milestones reached approximately $2.2 billion, including $150 million in royalty and milestone income and $120 million in commercial backlog. CEO Li Jincai noted that the company signed a record 51 ICMCs in the first half, with about 75% from novel modalities, and maintained full-year guidance of at least 35% standalone growth. The Singapore site transitioned to operation, and the BioDlink acquisition integration progressed, though it is currently loss-making. Management declined to raise guidance despite strong performance, citing high capacity utilization and potential margin pressure.

Ascendis Pharma announced it will present Week 104 data from its pivotal ApproaCH Trial of once-weekly TransCon CNP (navepegritide) in children with achondroplasia at the International Skeletal Dysplasia Society meeting in Toronto on August 28, 2026. The oral presentation will be given by Carlos Bacino, M.D., Professor of Molecular and Human Genetics at Baylor College of Medicine and Texas Children's Hospital. Ascendis said the long-term data reinforce benefits seen in clinical trials, including durable height improvements, better lower-extremity alignment, body proportionality, spinal canal dimensions, muscle function, and physical functioning, with a safety profile similar to placebo and low injection site reactions. TransCon CNP was approved by the U.S. FDA in February 2026 under the name YUVIWEL for pediatric patients 2 years and older with achondroplasia and open epiphyses, and a European Medicines Agency decision is expected in the fourth quarter of 2026.

Eli Lilly shares rose about 1.3% to $1,262.60 Tuesday morning as its once-daily weight-loss pill Foundayo launched in Britain's private-prescription market, marking the company's first European rollout for the drug. The launch comes before Lilly secures broader access through England's National Health Service. Patients taking the highest dose in Lilly's pivotal U.S. obesity trial lost an average of 27 pounds. Lilly's second-quarter revenue surged 48% to $23 billion, prompting management to raise its full-year revenue forecast to between $85 billion and $87 billion. The stock trades 16.89% below its $1,520 GF Value estimate, and the company now faces competition from Novo Nordisk's oral Wegovy.