In a significant policy shift and following recent public unrest, China now appears to be moving away from its strict "COVID Zero" restrictions to salvage a floundering economy hard hit by repeated lockdowns, as part of which it is looking to accelerate the approval of new vaccines and increase vaccination rates in the elderly.

The impact of drug shortages in Japan, including of essential products, is being considered as part of government-level discussions to consider the appropriateness of the current reimbursement pricing system. Amid rising production costs and wider global challenges, some experts in the industry are now asking for price increases.

Roivant will form a new "vant" company to develop and commercialize Pfizer's TL1A inhibitor for ulcerative colitis.

With only weeks to go in 2022, the three major pharmas each had inked between 16 and 20 deals. Meanwhile, Pfizer has been less busy with 12 deals, but those include M&A totaling $18.2bn.