Shanghai Junshi Biosciences Co., Ltd.
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Three years since the first cluster of SARS-CoV-2 infections were reported in Wuhan, China has finally put the first nail in the coffin of its strict "COVID Zero" policies. But as Beijing begins to relax its most restrictive rules, citizens remain concerned about ballooning infections, while a low vaccination rate among seniors and vaccine fatigue appear to be dimming hopes of a quick revitalization of the hard-hit economy and bruised consumer confidence.
Immuno-oncology therapies have revolutionized the treatment of many cancers over the last decade. This period has also witnessed a dramatic growth in China’s domestic pharmaceutical industry, and significant changes in the interaction between this industry and international pharma. This coalescence has led to excitement about the role that Chinese IO could play on the global stage, tempered by regulatory set-backs and revised marketing timelines.
Following disruptions in the second quarter from lockdowns around China, major Chinese firms BeiGene and Junshi reported strong double-digit sales gains for anti-PD-1 antibodies in the third quarter. Revenues at others including Hengrui, Zai Lab and Allist also shone during the period.
Recent visits by foreign dignitaries and progress with local mRNA vaccines and antivirals appear to be helping some slight relaxations in China's strict COVID policies, but some experts predict it may still take months for further steps.
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