Core Viewpoint - The collaboration between Heng Rui Medicine and Merck marks a significant licensing agreement in the innovative drug sector, indicating a trend of increasing partnerships between multinational pharmaceutical companies and local biotech firms in China [1][2]. Group 1: Licensing Agreements - Heng Rui Medicine announced a licensing agreement with Merck for the oral small molecule project Lp(a), granting Merck exclusive rights to develop, produce, and commercialize the compound HRS-5346 outside Greater China [1]. - Merck will pay Heng Rui a $200 million upfront fee, with potential milestone payments related to development, regulatory, and commercialization reaching up to $1.77 billion [1]. - Heng Rui will also receive sales royalties based on the performance of HRS-5346 outside Greater China [1]. Group 2: Market Trends - There has been a notable increase in business development collaborations between multinational pharmaceutical companies and local innovative drug firms since the end of 2023, with several prominent projects emerging this year [1][2]. - The innovative drug sector in Hong Kong is experiencing a valuation expansion that may be stronger than that in A-shares, driven by higher R&D expenditure and overseas revenue proportions [3]. Group 3: Financial Performance - The overall net profit growth of the Hong Kong innovative drug sector has consistently outpaced that of A-shares since the first half of 2023, suggesting a favorable outlook for profitability [3]. - The sector is more sensitive to U.S. Treasury rates and benefits from overseas liquidity easing, which could enhance valuation levels [4]. - Companies in the Hong Kong innovative drug sector are perceived to have better cost-performance advantages, indicating greater potential for valuation elasticity [4]. Group 4: Company Developments - Heptares Therapeutics has entered a share subscription agreement with AstraZeneca, with a subscription price of $1.38 per share, representing a 37.2% premium over the closing price on the agreement date [6]. - Federal Pharmaceuticals has signed an exclusive licensing agreement with Novo Nordisk for UBT251, a triple agonist in early clinical development, with potential payments totaling up to $1.8 billion [7][8]. - Akeso reported a significant revenue increase of 4765.6% to approximately 156 million yuan, driven by a milestone collaboration agreement worth 900 million yuan [8]. - Hutchison China MediTech received conditional approval for its drug Tazemetostat in China, marking its first national regulatory approval [9]. - China Biologic Products announced positive interim results for its innovative drug Culmerciclib in a Phase III trial for breast cancer, with plans to submit a marketing application soon [10].

"心血管疾病在全球存在巨大未满足的临床需求。我们很高兴与心血管领域全球领军企业默沙东达成战略合作，让恒瑞的心血管创新药服务于全球患 者。"恒瑞医药执行副总裁、首席战略官江宁军表示，"相信默沙东卓越的临床研发实力和全球化布局，将加速推动HRS-5346的研发进程。" "血液中Lp（a）升高是动脉粥样硬化性心血管疾病的明确风险因素，影响全球多达五分之一的成年人。"默沙东研究实验室总裁Dean Y.Li博士表 示，"HRS-5346是一种在研的口服小分子Lp（a）抑制剂，将有力拓展并完善我们在心血管、代谢疾病领域的研发管线。" 需要注意的是，该交易的交割取决于能否获得美国《哈特-斯科特-罗迪诺反托拉斯改进法》项下的批准，以及能否满足其他惯常条件。该交易预计于 2025年第二季度完成交割。 19.7亿美元！恒瑞医药出海大消息 创新药龙头恒瑞医药又有出海大动作。 恒瑞医药3月25日晚公告，公司与美国医药巨头默沙东达成协议，将恒瑞的脂蛋白（a）[Lp（a）]口服小分子项目（包括名为HRS-5346的先导化合 物）有偿许可给默沙东，默沙东将获得HRS-5346在大中华区以外的全球范围内开发、生产和商业化的独家权利。 恒瑞医 ...

Group 1 - The Schall Law Firm has initiated a class action lawsuit against Merck & Co., Inc. for alleged violations of the Securities Exchange Act of 1934 [1][4] - The lawsuit pertains to investors who purchased Merck's securities between February 3, 2022, and February 3, 2025, and encourages them to contact the firm before April 14, 2025 [2] - The complaint alleges that Merck made false and misleading statements regarding the demand for its product Gardasil, particularly in China, while concealing negative facts about inventory levels [4] Group 2 - The lawsuit claims that Merck's public statements were materially misleading, leading to investor damages when the truth about the company's situation was revealed [4] - The Schall Law Firm specializes in securities class action lawsuits and represents investors globally [5]

Core Viewpoint - HengRui Medicine has entered into a collaboration with Merck to license its oral small molecule project targeting lipoprotein(a) [Lp(a)], with a maximum transaction value of $1.97 billion [1][2] Group 1: Agreement Details - The agreement allows Merck exclusive rights to develop, manufacture, and commercialize HRS-5346 outside Greater China [1] - HengRui will receive an upfront payment of $200 million and is eligible for up to $1.77 billion in milestone payments related to development, regulatory, and commercialization [1] - The agreement is subject to approval under U.S. regulations and is expected to take effect in the second quarter of 2025 [1] Group 2: Product Information - HRS-5346 is an investigational oral small molecule inhibitor of Lp(a), currently undergoing Phase II clinical trials in China [2] - Elevated Lp(a) levels are a common genetic lipid disorder, affecting over 1.4 billion people globally, and are an independent risk factor for atherosclerotic cardiovascular diseases [2] - Targeting Lp(a) with lipid-lowering therapies represents a significant breakthrough in the prevention and treatment of cardiovascular diseases [2] Group 3: Impact on Company - The signing of this agreement is expected to broaden the overseas market for HRS-5346 and enhance HengRui's innovative brand and international performance [2]

Core Viewpoint - Jiangsu Hengrui Medicine Co., Ltd. has signed a licensing agreement with Merck Sharp & Dohme LLC for the HRS-5346 project, granting MSD exclusive rights to develop, manufacture, and commercialize the oral small molecule Lp(a) inhibitor HRS-5346 outside of Greater China [1][2]. Group 1: Product Information - HRS-5346 is an investigational oral small molecule inhibitor targeting elevated lipoprotein(a) levels, which is a genetically determined condition and an independent risk factor for cardiovascular diseases, affecting approximately 1.4 billion people globally [1]. Group 2: Transaction Details - The agreement grants MSD exclusive rights to develop, produce, and commercialize HRS-5346 globally, excluding Greater China [2]. - MSD will pay Hengrui a $200 million upfront payment and is eligible for milestone payments up to $1.77 billion related to development, regulatory, and commercialization achievements [2]. - The agreement is subject to approval under the U.S. Hart-Scott-Rodino Antitrust Improvements Act and other specific closing conditions, with an expected effective date in Q2 2025 [2]. Group 3: Legal and Impact - The agreement is governed by the laws of the State of New York, USA [3]. - The signing of this agreement is expected to broaden the overseas market for HRS-5346, providing quality treatment options for global patients and enhancing the company's innovative brand and overseas performance [3]. - The company aims to strengthen international cooperation while maintaining a focus on independent research and development, facilitating rapid transformation of research outcomes and maximizing product value [3].

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Biopharma in North America - **Market Analysis**: Comprehensive analysis of the US drug market conducted by IQVIA Rx Key Market Metrics - **Total Prescription Year-over-Year (YoY) Growth**: - Latest weekly growth (week ending March 14, 2025) was +4.0%, up from +3.0% the previous week and +2.3% over the past 12 weeks [1][2] - For the week ended March 14, the total market weekly TRx YoY change was +4.0% compared to +1.2% a year ago [2] - Rolling 4-week TRx YoY was +3.1% and rolling 12-week TRx YoY was +2.3% [2] - Extended unit (EUTRx) weekly YoY growth was +2.2%, which is below the TRx YoY growth [2] Company-Specific Insights - **Bristol Myers Squibb (BMY)**: - Cobenfy, approved for schizophrenia on September 26, 2024, had approximately 1,340 scripts for the week, an increase from ~1,300 the previous week [3] - To meet 2025 consensus expectations, Cobenfy TRx needs to track at ~2-3x the volumes from recent schizophrenia launches, with an estimated requirement of ~125K TRx to reach consensus estimates of $160 million [3] - **Vertex Pharmaceuticals (VRTX)**: - Journavx, approved for acute pain on January 30, 2025, recorded ~1,150 scripts for the week, up from ~610 the previous week [4] - To achieve a sales estimate of $87 million, approximately 229K and 441K total scripts are needed for 14-day and 7-day script durations, respectively [4] Competitive Landscape - **Biosimilars**: - Updates on biosimilar launches including Amgen's Wezlana and Teva's Selarsdi, with respective launch dates of January 17, 2025, and February 21, 2025 [5] - **Seasonal Vaccines**: - RSV vaccine volumes are tracking ~65% below last year's levels, while COVID vaccine volumes are also down year-over-year [9] Notable Drug Performance - **Eli Lilly (LLY)**: - Mounjaro and Zepbound launches are being tracked, with Mounjaro showing significant growth [10] - **AbbVie**: - Humira is experiencing a decline of -41% YoY, while Rinvoq and Skyrizi are showing growth rates of 43% and 49% respectively [22][23] Additional Insights - **Market Dynamics**: - The analysis indicates that extended unit data trends were more positive than prescription trends, suggesting a shift towards longer-duration prescriptions [33] - **Sales Trends**: - The IQVIA databases differentiate between prescription and sales trends, with TRx representing total prescriptions dispensed including refills [29] This summary encapsulates the critical insights from the conference call, highlighting the current state of the biopharma industry, specific company performances, and market dynamics.

NEW YORK, March 24, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Merck & Co., Inc. (NYSE: MRK).Shareholders who purchased shares of MRK during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/merck-co-inc-loss-submission-form/?id=137692&from=4CLASS PERIOD: February 3, 2022 to Febru ...

NEW YORK, March 21, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Merck & Co., Inc. ("Merck" or the "Company") (NYSE: MRK) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Merck investors who were adversely affected by alleged securities fraud between February 3, 2022 and February 3, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/merck-co-inc-lawsuit-submissio ...

Core Viewpoint - A class action securities lawsuit has been filed against Merck & Co., Inc. due to alleged securities fraud affecting investors between February 3, 2022, and February 3, 2025 [1] Group 1: Lawsuit Details - The lawsuit aims to recover losses for Merck investors who were impacted by the company's misleading statements regarding expected revenue of $11 billion from Gardasil sales by 2030 [2] - Merck's optimistic forecasts were based on anticipated consumer activation and education efforts to drive demand for Gardasil, particularly in China [2] - On February 4, 2025, Merck announced it would not meet the $11 billion sales target for Gardasil by 2030, citing a need to halt shipments to China due to over-inflated inventories and lower-than-expected demand [2] - Following this announcement, Merck's stock price dropped from $99.79 to $90.74, a decline of over 9% in one day [2] Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until April 14, 2025, to request appointment as lead plaintiff in the lawsuit [3] - Participation in the lawsuit does not require serving as a lead plaintiff, and there are no costs or obligations for class members [3] Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years [4] - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4]

Shareholders who purchased shares of MRK during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. NEW YORK, March 20, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Merck & Co., Inc. (NYSE: MRK). CONTACT US HERE: https://securitiesclasslaw.com/securities/merck-co-inc-loss-submission-form/?id=137119&from=3 CLASS PERIOD: February 3, 2022 ...