BMS, which acquired MyoKardia in 2020 months after LianBio acquired rights in certain Asia-Pacific territories, said the deal would help expand its footprint in China.

Public Company Edition: Sage will reveal cost reductions later in the third quarter after the US FDA approved zuranolone for the smaller of two depression indications. Also, Karyopharm revealed a 20% workforce reduction, Harmony accessed up to $185m in debt and Astellas invested $50m in Poseida.

The company plans to focus on 7 million of the 25 million potentially addressable Demodex blepharitis patients at first, but even that could yield blockbuster sales over the next decade.

The third quarter could bring US approvals for a range of novel drugs, including the first treatment for a common eye disease, the first US approval of PD-1/L1 inhibitor from a Chinese firm, and the first oral therapy for postpartum depression.