Bristol's $2.4 billion buyout of Medarex in 2009 yielded value equivalent or greater to that realized in larger M&A transactions signed that year, such as Pfizer/Wyeth, Merck/Schering-Plough and Roche/Genentech. The deal made BMS a leader in immuno-oncology and by most accounts is the highlight of the pharma's "string of pearls" strategy.

China’s allowance of early clinical trials for drugs sourced outside of the country will help domestic companies develop innovative drugs for the domestic market, as shown by the licensing deal between Lee’s Pharma and RegeneRx for a dry eye syndrome treatment. With the China xerophthalmia segment showing rapid growth, the country may eventually become one of the biggest markets in the world for RGN-259.

The price slashes were so harsh that industry associations have staged a rare faceoff with authorities, with many worrying that the Hunan drug tender, being the first in the year, may herald a new round of drug price cuts in China.

As Sanofi enters a new phase in the insulin race amid heating competition in the country with the highest number of diabetics, it has outlined a new strategy in China, starting from a better understanding of the disease. It is also shifting from simply offering products to providing broader solutions, the firm’s global diabetes head Pierre Chancel says in an interview.