During Q2, biopharma merger and acquisition value reached $25.4bn and drew in $27.3bn in potential deal value from alliances. Device company M&A values reached $2.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $534.3m.

Only four multinationals, including Pfizer, had to make deep cuts to the prices of their off-patent drugs to outbid local generic competitors in China’s seventh round of centralized volume-based procurement. Among the foreign firms that lost out in the bidding, Eisai looks set to be dealt the heaviest blow in terms of market share.

An inability to conduct manufacturing field inspections in China due to strict local COVID-19 policies is cited as the only reason for the delay for the anti-PD-1 drug, for which the timescale for resolution is currently unclear.

F-star's novel bispecific technology attracts Sino Biopharma-affiliated acquisition, Shionogi agreement with GARDP brings antibiotic cefiderocol to 135 countries, deal with WinHealth covering Greater China expands Quoin’s licensing of Netherton syndrome candidate to 60 nations, Kyorin and CellGenTech team up in Fabry disease.