Core Insights - BioArctic reported a transformative year with record financial results, including an operating profit exceeding SEK 1.2 billion and a doubling of cash position [1][2] - The company proposed a dividend of SEK 2.00 per share for the financial year 2025, reflecting its strong financial position [2] Financial Summary - Cash and cash equivalents and short-term investments at the end of the period amounted to SEK 2,190.4 million, up from SEK 778.9 million [1] - Cash flow from operating activities was SEK 313.3 million, compared to a negative SEK 27.4 million in the previous year [1] - Earnings per share before and after dilution were SEK -0.10, improving from SEK -0.36 [1] - Profit for the period was SEK -8.8 million, an improvement from SEK -31.5 million [1] - Operating profit was SEK 33.2 million, compared to SEK -53.5 million in the previous year [1] - Net revenues reached SEK 184.0 million, up from SEK 101.2 million, with SEK 127.0 million in royalties from Leqembi [1] Product Development and Regulatory Updates - Leqembi was approved in over 50 markets, with sales growing each quarter; royalty revenues increased by 31% year-on-year despite currency impacts [1] - The subcutaneous version of Leqembi, Leqembi Iqlik, was launched for maintenance treatment in the US, allowing for home administration [1] - Regulatory reviews for Leqembi Iqlik are ongoing in the US, China, and Japan, with priority reviews granted by the FDA and EMA [1] - The company is working to broaden the availability of Leqembi in Nordic countries and is addressing regulatory challenges in Europe [1] Research and Development Initiatives - BioArctic has strengthened its project portfolio with new initiatives in Huntington's disease and Parkinson's disease, alongside advancing existing projects [1] - Candidate drugs for two projects are being prepared for clinical studies, including one in ALS and another in Parkinson-related disorders [1] - The company is investing in its BrainTransporter technology to enhance the delivery of treatments across the blood-brain barrier [1] - Strong interest in BioArctic's technology and projects has been noted, with opportunities for new strategic partnerships anticipated [1]

Before blood-based biomarkers um came to fruition with respect to Alzheimer's, the really the gold standard were cognitive tests that physicians perform and then they would move that patient directly into imaging, whether that's a PET CT image or an MRI image. And today what we're seeing is there's there's bloodbased biomarkers for amaloid plaque for what we call these tow bundles. And you're actually going to detect Alzheimer's at a much earlier stage than what you would see in imaging.And some of the new ...

许可产品斯鲁利单抗注射液为集团自主研发的创新型抗PD-1单抗，已在多个国家和地区获批上市，并 且在中国境内的适应症包括多种类型的癌症。 根据协议，Eisai需向复宏汉霖支付至多1.55亿美元的不可退还首付款及监管里程碑款项，其中首付款为 7500万美元，监管里程碑款项可达8001万美元。此外，Eisai还需根据许可产品的年度净销售额向复宏汉 霖支付至多2.33亿美元的销售里程碑款项及特许权使用费。 近日，复星医药（600196）发布公告称，控股子公司复宏汉霖与Eisai签订《许可协议》，由复宏汉霖授 予Eisai于许可区域（即日本）及领域（即用于肿瘤适应症治疗）开发、生产及商业化斯鲁利单抗注射液 的权利。 ...

北京商报讯（记者 丁宁）2月5日晚间，复星医药（600196）发布公告称，2月5日，公司控股子公司复 宏汉霖与Eisai签订《许可协议》，由复宏汉霖授予Eisai于许可区域（即日本）及领域（即用于肿瘤适应 症治疗）开发、生产及商业化斯鲁利单抗注射液的权利。 复星医药表示，本次合作有助于进一步拓展集团产品的海外市场，有利于增强集团产品在国际市场的可 及性和认可度。 ...

Core Viewpoint - Japan's Eisai has entered into a licensing agreement with Shanghai Henlius Biotech for the lung cancer drug Hansizhuang, involving an upfront payment of $75 million and potential milestone payments totaling up to $313.34 million [1] Group 1 - Eisai will pay an upfront fee of $75 million to Henlius for the licensing rights to Hansizhuang [1] - The agreement includes additional milestone payments that could reach up to $313.34 million, contingent on the achievement of specific targets [1] - This partnership highlights the growing collaboration between Japanese and Chinese biopharmaceutical companies in the oncology sector [1]

格隆汇2月5日丨复星医药(02196.HK)发布公告，2026年2月5日，公司控股子公司复宏汉霖与Eisai签订 《许可协议》，由复宏汉霖授予Eisai于许可区域(即日本)及领域(即用于肿瘤适应症治疗)开发、生产及 商业化斯鲁利单抗注射液的权利。 基于许可产品于许可区域的年度净销售额(定义从约定，下同)达成情况，Eisai应依约向复宏汉霖支付至 多2.3333亿美元的销售里程碑款项。此外，特许权使用费于本协议期限内，Eisai应依约按照许可产品于 许可区域的年度净销售额及约定的两位数百分比向复宏汉霖支付特许权使用费。 斯鲁利单抗注射液为集团自主研发的创新型抗PD-1单抗，截至本公告日期(即2026年2月5日)，该药品已 分别于中国境内、欧盟、英国、印度尼西亚、柬埔寨、泰国、马来西亚、新加坡及印度等国家/地区获 批上市。本次合作有助于进一步拓展集团产品的海外市场，有利于增强集团产品在国际市场的可及性和 认可度。 根据约定，Eisai应就许可产品向复宏汉霖支付至多1.5501亿美元不可退还的首付款、监管里程碑款项， 具体包括：(1)首付款7500万美元，于许可协议订立后支付；(2)基于许可产品于许可区域的相关监管 ...

斯鲁利单抗注射液为集团自主研发的创新型抗PD-1单抗。本次合作有助于进一步拓展本集团产品的海 外市场，有利于增强集团产品在国际市场的可及性和认可度。 复星医药（600196）(600196.SH)发布公告，2026年2月5日，公司控股子公司复宏汉霖与Eisai签订《许 可协议》，由复宏汉霖授予Eisai于许可区域(即日本)及领域(即用于肿瘤适应症治疗)开发、生产及商业 化斯鲁利单抗注射液的权利。 根据约定，Eisai应就许可产品向复宏汉霖支付至多15,501万美元不可退还的首付款、监管里程碑款项， 具体包括：(1)首付款7,500万美元，于许可协议订立后支付;(2)基于许可产品于许可区域的相关监管审批 进展，依约支付至多8,001万美元的监管里程碑款项。基于许可产品于许可区域的年度净销售额(定义从 约定)达成情况，Eisai应依约向复宏汉霖支付至多23,333万美元的销售里程碑款项。 ...

（文章来源：每日经济新闻） 每经AI快讯，2月5日，复星医药(600196.SH)公告称，公司控股子公司复宏汉霖与Eisai签订《许可协 议》，授予Eisai于日本及领域（即用于肿瘤适应症治疗）开发、生产及商业化斯鲁利单抗注射液的权 利。协议包括至多15,501万美元的首付款、监管里程碑款项，以及至多23,333万美元的销售里程碑款项 和特许权使用费。该合作有助于进一步拓展复星医药产品的海外市场。但药品研发具有不确定性，且相 关款项的收取亦存在不确定性。 ...

格隆汇2月5日丨复星医药(600196.SH)公布，2026年2月5日，本公司控股子公司复宏汉霖与Eisai签订 《许可协议》，由复宏汉霖授予Eisai于许可区域（即日本）及领域（即用于肿瘤适应症治疗）开发、生 产及商业化斯鲁利单抗注射液的权利。 （sqNSCLC）、广泛期小细胞肺癌（ES-SCLC）、食管鳞状细胞癌（ESCC）及非鳞状非小细胞肺癌 （nsqNSCLC）。该药品相关适应症已获美国、欧盟、瑞士及韩国等国家/地区的药品监督管理部门授予 孤儿药资格认定；且该药品联合化疗新辅助/辅助治疗胃癌的药品注册申请已于2025年12月获中国国家 药品监督管理局受理，并获纳入优先审评程序。此外，多项该药品单药及联合疗法的临床试验正在全球 有序推进中，广泛覆盖肺癌、食管癌、头颈鳞癌、结直肠癌和胃癌等适应症。 斯鲁利单抗注射液为本集团自主研发的创新型抗PD-1单抗，截至本公告日期（即2026年2月5日），该 药品已分别于中国境内、欧盟、英国、印度尼西亚、柬埔寨、泰国、马来西亚、新加坡及印度等国家/ 地区获批上市；其中，中国境内获批的适应症包括联合化疗一线治疗鳞状非小细胞肺癌 ...

Core Viewpoint - Biogen is set to report its fourth-quarter and full-year 2025 results on February 6, with expectations for sales of $2.21 billion and earnings per share of $1.60, following a previous quarter where earnings exceeded expectations by 23.65% [1][10]. Sales Performance - Sales of Biogen's multiple sclerosis (MS) drugs are anticipated to decline due to generic competition for Tecfidera and biosimilar competition for Tysabri, although new products may offset some of this decline [2]. - The Zacks Consensus Estimate for Tecfidera sales is $120 million, while Tysabri is estimated at $362 million, and Vumerity is expected to rise to $183 million due to increased demand [3]. - U.S. MS sales were better than expected in the first three quarters of 2025, driven by Vumerity, but a steeper decline is expected in the fourth quarter due to increased competition, particularly in Europe [4]. Drug-Specific Insights - Sales of Spinraza are projected to decline to $380 million due to lower demand, while Skyclarys is expected to show sequential growth supported by demand and geographic expansion [5]. - Zurzuvae is likely to continue rising in sales, benefiting from strong patient demand and an expanding prescriber base, with its approval in the EU contributing to growth [6][7]. - Alzheimer's collaboration revenues are expected to rise, driven by Biogen's share of net product revenues from Leqembi, which has shown sequential sales improvement in the U.S. [8][9]. Earnings Surprise and Stock Performance - Biogen has a history of beating earnings estimates, with a four-quarter average surprise of 14.02%, and its stock has increased by 25.9% over the past year, outperforming the industry average of 15.2% [12][13]. - The company's Earnings ESP is currently -2.49%, indicating that the model does not predict an earnings beat this time [15][16].