Latest news with #Akeso
Telegraph
2 hours ago
- Business
- Telegraph
China targets a new frontier in its bid to eclipse the West
For the world's leading cancer doctors and scientists, few events in the calendar are more prestigious than the annual meeting of the American Society of Clinical Oncology (Asco). Each year, tens of thousands of top researchers gather to unveil pivotal scientific breakthroughs and new therapies that will shape the future of cancer care across the globe. The event has changed the way scientists view breast cancer, challenged views on colorectal cancer and offered novel ideas on how to help seriously ill patients. The discovery which everyone was speaking about last year was one made by a little-known biotech firm called Akeso. Its new lung cancer drug had achieved something 'unprecedented', its US partner Summit Therapeutics said on the eve of Asco. The new experimental drug 'decisively beat' Merck's blockbuster lung cancer treatment in clinical trials. The news came as a shock – not just because it challenged Merck's well-known dominance in lung cancer drugs, but because Akeso was Chinese. 'DeepSeek' moment For years, Asco's annual meeting has been dominated by American scientists. However, last year was different. It marked a watershed moment for the pharmaceutical sector, which had long written off China as a nation that excelled in drug manufacturing and 'copycat' treatments but not medicine discovery. Akeso's debut on the world stage has been described as a 'DeepSeek' moment for the industry – a reference to the sudden emergence of a highly advanced AI chatbot out of China earlier this year, which took US tech giants by surprise and wiped close to $1 trillion (£740bn) off global stock markets. Summit's shares are up more than 600pc since first announcing the lung cancer trial results. 'The two large innovators in our industry today are the US and China,' Sir Pascal Soriot, the boss of AstraZeneca, said in March. 'China is, I think over the next five to 10 years, going to emerge as really a driving force for innovation in our sector.' It sets the stage for a growing tussle between the US and China over the future of drug development. Donald Trump has been clear that he wants pharmaceutical giants to be investing more in America. Biopharmaceutical companies and their suppliers account for 4.9m jobs and are worth around $1.65 trillion to the US. However, drug companies are increasingly turning east when it comes to investing in new drugs and clinical trials. Not only is China becoming an easier place to research and create new drugs, but the Trump administration is also shaking faith in the US. Vaccine sceptic health secretary Robert F Kennedy Jr has prompted much anxiety in the industry. By contrast, China is 'very business friendly and stable' Novartis boss Vas Narasimhan said in May. Drugs boom Beijing has been attempting to win more pharma investment for years – and specifically attempting to boost funding for drug innovation. Drug discovery was a key pillar of the 'Healthy China 2030' strategy unveiled in 2016, aimed at helping the country cope with its ageing population. The focus has already paid dividends. Over the past three years alone, the number of Chinese drugs in development has doubled to 4,391. Almost half are either novel drugs or something known as a 'fast-follower', where treatments are quickly developed on the back of breakthroughs by rivals. According to Barclays, the number of so-called 'first-in-class' drugs under development in China rose to around 120 last year, having been in the single digits in 2015. First-in-class essentially measures the level of innovation by looking at the highest development stage a drug has reached and the earliest time it reached that stage. The growth in China is unmatched. While the US, which has long been regarded as the world leader in drug discovery, has more first-in-class drugs in development, at 151, the growth rate has been much slower. 'The shift isn't incremental, it's tectonic,' says Abhishek Jha, the founder of life sciences data company Elucidata. One crucial part of Beijing's push to drive more drug discovery has been speeding up clinical trials. In China, regulators allow businesses to get studies up and running quicker, and then update them as they progress. This can provide early data on new drugs, which is a major draw for multinational companies looking for novel treatments that show signs of working well. It has sparked a boom in studies taking place in China. According to figures from the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), China accounted for around 18pc of clinical trials sponsored by companies in 2023 compared to just 5pc in 2013. Meanwhile, the US proportion has dipped from 28pc to 23pc. Clinical trial enrolment in China is surging, with around 40pc now having more than 100 participants. Bitter pill Fewer regulatory barriers are just one of a number of reasons pharma companies are turning to China. Workers, too, are less averse to working unsociable hours than they would be in Western nations. Shirley Chen, a Barclays analyst, says: 'Chinese scientists may be happier to accept very long work hours and people like hospital personnel [where trials take place] are actually okay to do night shifts.' Major drug giants are now scouring China for potential deals. The likes of GSK, AstraZeneca and Merck have all struck deals worth more than $1bn to get the rights to develop and sell Chinese drugs outside the country. The rise of China's pharmaceutical industry has started to raise alarm bells in the US. Trump may be focused on returning manufacturing jobs to the US, yet some say he should be concerned that more high-quality jobs and research posts are starting to drift to China. 'Five years ago, US pharmaceutical companies didn't license any new drugs from China,' Scott Gottlied, the former Food and Drug Administration commissioner, wrote earlier this month. 'By 2024, one third of their new compounds were coming from Chinese biotechnology firms.' He warned that the shift of clinical trials to Asia could undermine innovation in the US as companies choose to 'divert funds that might otherwise bolster innovation hubs such as Boston's Kendall Square or North Carolina's Research Triangle'. 'The US biotechnology industry was the world's envy, but if we're not careful, every drug could be made in China.' While Trump exempted most countries' pharmaceutical industries from tariffs in his 'liberation day' blitz, China was not spared. That means physically manufacturing drugs for the US in China is out of the question, for now at least. However, unless the US rights the ship, many of its treatments may well be designed in China in future. As pharmaceutical leaders made their way to the annual Asco meeting this week, the shifting power balance will no doubt be on attendees' minds. Industry chiefs may be congregating at a US research conference, but attention is turning to the east.
Yahoo
17 hours ago
- Business
- Yahoo
New Summit data could slow US approval plans for PD-1/VEGF drug
This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter. A dual-acting drug developed by Summit Therapeutics and Akeso delayed tumor progression in a Phase 3 lung cancer trial but didn't extend survival, complicating its potential path to approval in the U.S. When administered alongside chemotherapy, the drug, known as ivonescimab, reduced the risk of death or disease progression by 48% compared to chemotherapy alone in patients whose non-small cell lung cancer has a mutation in a gene called EGFR. However, a 21% reduction in death risk, specifically, didn't meet the threshold for statistical significance, Summit said in a statement Friday. Summit intends to seek Food and Drug Administration approval based on the study results. Yet in its statement, the company indicated the timing of a filing is uncertain given the agency has made clear that a survival benefit is 'necessary' to support a submission. Summit shares fell by nearly 20% early Friday. Ivonescimab is the frontrunner among more than a dozen medicines that simultaneously block the proteins PD-1 and VEGF and are seen as a way to build upon widely used cancer immunotherapies like Keytruda. Its success or failure has broad implications for cancer research, making each study readout a closely scrutinized event among scientists and investors. So far, the results Summit and its China-based partner Akeso have accrued are painting a mixed and incomplete picture. A Phase 3 trial in China in non-small cell lung cancer found the drug cut the risk of disease progression or death in half compared to Keytruda, a striking, first-of-its-kind result that sparked interest and investment in PD-1/VEGF drugs. But ivonescimab hasn't yet clearly extended survival in that same study. Summit's drug also hasn't yet proven superior to the Keytruda-chemotherapy regimen that's standard therapy in many lung cancers. The results accrued so far were from trials in China, too, not the kind of multi-country test the FDA prefers. The data revealed Friday were meant to address one of those issues, proving that the benefits Summit and Akeso have observed in China would be replicated in a broader study population. Summit, for its part, said invonescimab's effects on tumor progression were 'clinically meaningful' in 'both Asia and ex-Asia sub-populations,' and demonstrated the 'consistency' of the drug's benefit in each group. The outcome also closely resembled what Akeso reported in a similar study of EGFR-mutated lung cancer in China. No new safety issues were observed either. The data 'demonstrates the potential benefit ivonescimab has to bring to patients around the world, including the United States,' said Summit chairman and co-CEO Robert Duggan, in a statement. Still, the lack of a clear impact on survival in the trial, at least so far, could slow ivonescimab's path to approval in the U.S. Summit implied its results could improve, as the follow-up time for 'western' patients in its trial was less than the median overall survival figure when data were analyzed. It also noted how no FDA-approved regimens in the setting in which ivonescimab was tested have demonstrated a statistically significant effect on survival. The FDA's insistence on such data, though, 'will weigh into Summit's considerations' as to when it might make a submission, the company said. The agency's 'high bar for demonstrated overall survival benefit make approval less likely,' wrote Leerink Partners analyst Daina Graybosch, in a Friday note to investors. Just this week, Merck and Daiichi Sankyo withdrew an approval application in EGFR lung cancer after a drug they've been developing failed to improve survival in a clinical trial. Summit will disclose specific findings at a future medical meeting. A study evaluating ivonescimab and chemotherapy against Keytruda and chemotherapy in non-small cell lung cancer is ongoing. A readout is expected in 2027, according to a federal database. Recommended Reading New Akeso, Summit data stir debate on PD-1/VEGF drugs
Globe and Mail
20-05-2025
- Business
- Globe and Mail
Pfizer Buys Rights to PD-1 & VEGF Inhibitor From China Biotech
Pfizer PFE announced that it is in-licensing global development and commercialization rights, ex-China, to SSGJ-707, a bispecific antibody targeting PD-1 and VEGF, from Chinese biotech, 3SBio. 3SBio is already developing SSGJ-707 in China for non-small cell lung cancer ('NSCLC'), metastatic colorectal cancer, and gynecological tumors, with the first phase III study expected to begin this year. Unlike the currently available marketed products, which target only the PD-1 protein, SSGJ-707 targets two proteins, PD-1 and VEGF. The blockade of two proteins, PD-1 and VEGF, can lead to a more robust anti-tumor response, compared to targeting either pathway alone For the deal, Pfizer will make an upfront payment of $1.25 billion to 3SBio, with the latter also being entitled to milestone payments of up to $4.8 billion as well as tiered double-digit royalties on sales of SSGJ-707, if approved. Pfizer will also make an equity investment of $100 million in 3SBio upon close, subject to an agreement. Pfizer also retains an option for rights to commercialization in China. The transaction is expected to be closed in the third quarter. Pfizer's stock has declined 10.2% so far this year compared with a decrease of 4.0% for the industry. SMMT's Dual PD-1/VEGF Inhibitor Summit Therapeutics SMMT is also developing a dual PD-1 and VEGF inhibitor, ivonescimab, in collaboration with China-based Akeso. The company acquired an exclusive license from Akeso in 2022 to develop and market the drug in the United States, Canada, Europe and Japan. Ivonescimab is already approved only in China to treat EGFR-mutated, locally advanced or metastatic non-squamous NSCLC. In 2024, Summit Therapeutics reported positive data from a phase III study (conducted in China by partner Akeso) in patients with locally advanced or metastatic NSCLC, in which ivonescimab, outperformed Merck 's MRK blockbuster PD-L1 inhibitor, Keytruda. Summit believes ivonescimab has the potential to replace Merck's Keytruda as the next standard of care across multiple NSCLC settings. PFE's Zacks Rank Pfizer currently has a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pfizer Inc. (PFE): Free Stock Analysis Report Merck & Co., Inc. (MRK): Free Stock Analysis Report Summit Therapeutics PLC (SMMT): Free Stock Analysis Report
Yahoo
19-05-2025
- Business
- Yahoo
Asian Growth Companies With High Insider Ownership
As the global markets react positively to the recent U.S.-China tariff suspension, Asian equities have shown resilience with Chinese stocks rallying on hopes of reduced trade tensions. In such a climate, identifying growth companies with substantial insider ownership can be particularly appealing, as high insider stakes often signal confidence in a company's future prospects and alignment with shareholder interests. Name Insider Ownership Earnings Growth Sineng ElectricLtd (SZSE:300827) 36% 26.8% Nanya New Material TechnologyLtd (SHSE:688519) 11% 63.1% Schooinc (TSE:264A) 26.6% 68.9% Global Tax Free (KOSDAQ:A204620) 20.8% 35.1% Fulin Precision (SZSE:300432) 13.6% 44.2% Oscotec (KOSDAQ:A039200) 21.1% 85.9% Zhejiang Leapmotor Technology (SEHK:9863) 15.6% 60.7% giftee (TSE:4449) 34.5% 63.7% Suzhou Sunmun Technology (SZSE:300522) 35.4% 77.7% Techwing (KOSDAQ:A089030) 18.8% 65% Click here to see the full list of 619 stocks from our Fast Growing Asian Companies With High Insider Ownership screener. We're going to check out a few of the best picks from our screener tool. Simply Wall St Growth Rating: ★★★★☆☆ Overview: MIXUE Group operates in the production and sale of fruit drinks, tea drinks, ice cream, and coffee products both in Mainland China and internationally, with a market cap of HK$195.69 billion. Operations: The company's revenue is primarily derived from franchise and related services (CN¥620.05 million), sales of goods (CN¥23.45 billion), and sales of equipment (CN¥756.37 million). Insider Ownership: 28.8% MIXUE Group, recently completing an HKD 3.45 billion IPO, demonstrates strong growth potential with earnings forecasted to grow at 16.1% annually, outpacing the Hong Kong market's average. Despite high share price volatility and moderate revenue growth projections of 13.4%, the company's high insider ownership aligns interests with shareholders. Recent changes in share capital structure following a full exercise of the over-allotment option reflect strategic adjustments post-IPO to support its expansion ambitions in Asia. Click to explore a detailed breakdown of our findings in MIXUE Group's earnings growth report. Upon reviewing our latest valuation report, MIXUE Group's share price might be too optimistic. Simply Wall St Growth Rating: ★★★★★★ Overview: Akeso, Inc., a biopharmaceutical company, focuses on the research, development, manufacturing, and commercialization of antibody drugs with a market cap of approximately HK$74.99 billion. Operations: The company's revenue is primarily derived from the research, development, production, and sale of biopharmaceutical products, totaling CN¥2.12 billion. Insider Ownership: 19% Akeso's high insider ownership aligns with its growth trajectory, as the company is trading at a significant discount to its estimated fair value. Akeso's revenue is expected to grow rapidly at 29.6% annually, outpacing the Hong Kong market average. The company's recent approval of ivonescimab for NSCLC treatment and FDA approval of penpulimab highlight strong innovation capabilities despite recent earnings decline, positioning Akeso for potential profitability and robust market presence in oncology therapeutics. Navigate through the intricacies of Akeso with our comprehensive analyst estimates report here. According our valuation report, there's an indication that Akeso's share price might be on the expensive side. Simply Wall St Growth Rating: ★★★★★☆ Overview: InnoCare Pharma Limited is a biopharmaceutical company focused on discovering, developing, and commercializing drugs for cancer and autoimmune diseases in China, with a market cap of HK$21.34 billion. Operations: The company's revenue is primarily derived from its pharmaceuticals segment, totaling CN¥1.01 billion. Insider Ownership: 21.4% InnoCare Pharma benefits from high insider ownership, supporting its rapid growth trajectory with revenue expected to increase by 23.7% annually, surpassing the Hong Kong market average. The company is advancing several promising therapies, including Soficitinib for vitiligo and Mesutoclax for lymphoma, both receiving regulatory recognition in China. Despite current unprofitability and past losses of C¥440.63 million, InnoCare trades below estimated fair value, driven by a strong pipeline and potential future profitability in the biotech sector. Delve into the full analysis future growth report here for a deeper understanding of InnoCare Pharma. The valuation report we've compiled suggests that InnoCare Pharma's current price could be inflated. Embark on your investment journey to our 619 Fast Growing Asian Companies With High Insider Ownership selection here. Ready For A Different Approach? AI is about to change healthcare. These 21 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks analysis only considers stock directly held by insiders. It does not include indirectly owned stock through other vehicles such as corporate and/or trust entities. All forecast revenue and earnings growth rates quoted are in terms of annualised (per annum) growth rates over 1-3 years. Companies discussed in this article include SEHK:2097 SEHK:9926 and SEHK:9969. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TimesLIVE
19-05-2025
- Business
- TimesLIVE
Netcare invests in expanding mental health facilities
Private hospital group Netcare will build a new mental health care facility in Pretoria as the demand for the service continues to grow. 'In response to the increasing need for mental health support in the broader Tshwane region, the group will be commissioning the new Netcare Akeso Montana facility (88 beds) in October 2026. Furthermore, the Netcare Akeso Alberlito facility (80 beds) is scheduled to open its doors in March 2027, strengthening the group's national footprint and reinforcing its dedication to meeting the mental healthcare needs of communities across South Africa,' it said. It is also building a new Akeso hospital in Polokwane, which will have 87 beds. Netcare said demand for quality mental healthcare services 'continues to grow and the group remains committed to expanding access and pursuing new opportunities in this vital space'. On Monday, the company reported adjusted headline earnings per share increased by 20% to 58.8c for the six months to March and a 5.3% increase in total revenue to R12.6bn. The company declared an interim dividend of 36c per share. Total capital expenditure, including strategic projects, was R434m. Total capital expenditure for the 2025 full financial year is estimated at R1.5bn. The company has embarked on a digital strategy aimed at improving efficiencies and reshaping the way it delivers health and care. The current rollout phase will see the group developing capabilities in predictive analytics and have made significant progress, with the South African Health Products Regulatory Authority approving algorithm for the early detection of sepsis (blood stream infections) in ICU patients. 'This innovation enables earlier clinical interventions and meaningfully enhances patient care and outcomes. In addition, an advanced analytics platform has been deployed, equipping clinical teams with real-time, actionable insights. Beyond the substantial clinical and patient benefits, this capability positions the group to reduce the cost per clinical event, reduce morbidity and mortality rates and improve overall efficiency,' said CEO Dr Richard Friedman. The next phase of the digital transformation focuses on 'person-centred health and care' and is being rolled out over the next three to four years. 'This initiative will empower patients with direct access to their health records, enabling more meaningful engagement in their care journey and ensuring care delivery is deeply aligned with their individual needs and preferences,' he said.
