Deal snapshot: Viewing antibody-drug conjugates as a key to growing its cancer franchise beyond Keytruda, Merck & Co. will partner with C4 to develop protein degrader-antibody conjugates for cancer.

Sino acquires Gmax's obesity drug candidate. Simcere partners with Mass General Brigham on select research projects.

Rare disease and cancer treatments are front and center in the latest batch of China new drug approvals, while a new biosimilar of a big seller moves into the spotlight.

Also, deals involving Immunomic, Replicate, Biocon, DKSH, Genor, G1, Daiichi Sankyo, Esperion, Alteogen, Gelesis, China Medical System Holdings, Sosei and EverInsight.