Strong sales growth and licensing activity in 2023 helped multiple Chinese biotechs to a solid profit performance, some moving into the black for the first time.

After only two multinationals managed to win bids in China's massive new centralized drug procurement scheme, other foreign firms were hoping to get a break in the second round. But this may not materialize.

Bristol-Myers Squibb Co. has bolstered its immuno-oncology ambitions by acquiring IL-8 focused Cormorant Pharmaceuticals AB, the 4-year old Swedish biotech. Cormorant’s shareholders are getting $95M up front with the promise of a further $425M if milestones are achieved.

The anti-CD20 monoclonal antibody Arzerra (ofatumumab) has not been recommended for the maintenance therapy of relapsed chronic lymphocytic leukemia (CLL), an expanded indication, by the Committee for Medicinal Products for Human Use (CHMP).