The shockwave of WuXi's withdrawal from BIO is ripping through the Chinese contract services sector. While some remain hopeful, others are preparing Plan B.

After nearly three years of regulatory review, Genor Biopharma’s geptanolimab has become the first domestically-developed anti-PD-1/L1 drug to experience a major regulatory setback within the overcrowded class in China. Over the intervening years since it was submitted for approval, the country’s regulator has moved to tighten review standards.

Abbott Laboratories moved above Medtronic in MAT medtech revenues, while Philips Healthcare and Stryker finished 2022 with strong quarters, and Roche dropped a few places.

Private Company Edition: While Coya Therapeutics raised $15.25m in the final initial public offering in the US last year, Apnimed stayed private raising $80m in a series C extension and Metagenomi extended its series B by $100m to total $275m.