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A recent report from Hong Kong’s South China Morning Post states that a newly developed anti-cancer drug from China has received approval from the U.S. Food and Drug Administration (FDA) for marketing in the United States. According to the report, this novel anti-cancer drug is named Toripalimab, manufactured by Shanghai Junshi Biosciences Co., Ltd., and distributed in the U.S. by Coherus Biosciences under the brand name Loqtorzi. Its price has also been disclosed: the same dosage costs approximately RMB 2,000 (about USD 282) in China, whereas in the U.S. it sells for USD 8,892—a price difference of over 30-fold. Then some may ask: Why such a huge price gap? In fact, as early as 2020, Toripalimab was officially included in China’s National Medical Insurance Catalogue; the price for a 240 mg (6 mL) vial dropped from RMB 7,200 to RMB 2,100.97 per vial. This clearly demonstrates the immense leverage of China’s medical insurance system—so much so that Pfizer once went to great lengths to gain inclusion in the catalogue, only to fail. Moreover, in recent years, Pfizer’s vaccines have faced widespread international scrutiny: on November 30, the Texas Attorney General filed a lawsuit against Pfizer, accusing the company of misleading the public regarding the efficacy of its COVID-19 vaccine—i.e., the vaccine is not as effective as claimed. It remains to be seen how certain domestic online influencers—who previously championed Pfizer amid controversy—will respond upon hearing this news. In addition to Toripalimab, two other Chinese-developed anti-cancer drugs have also gained U.S. market access: fruquintinib and efbemalenograstim alfa. Like Toripalimab, these two drugs exhibit roughly a 24-fold price differential between China and the U.S. This disparity stems primarily from China’s national medical insurance policies. The powerful presence of China’s National Healthcare Security Administration has driven down prices across numerous therapeutic areas—including, for instance, coronary stents, which recently went viral online. You might recall that female department director—she truly is a blessing for the people. Thanks to her team’s forceful negotiations, many ordinary citizens now enjoy access to affordable medicines. Although these drugs appear expensive abroad, their prices remain comparatively low when benchmarked against equivalent U.S.-produced drugs. Thus, we can confidently say that several Chinese pharmaceutical products hold strong competitiveness overseas. In recent years, an internet buzzword has emerged: “Spiritual Americans.” In their minds, distant America is a sacred land of freedom and democracy—but is reality truly so? Before the popularization of mobile internet, Chinese people only heard that America was great—yet had no concrete idea of what life there was actually like. But with the rise of short-video platforms and broader mobile internet adoption, everything changed—and mutual understanding of daily life has deepened significantly.

AbbVie acquires ImmunoGen for $10.1 billion; Gilead cuts 7% of staff in its cell therapy division; Pfizer sued for 'misrepresenting COVID-19 vaccine efficacy' | Daily Report

AbbVie announced it has agreed to acquire ImmunoGen, a developer of novel antibody-drug conjugate (ADC) cancer therapies, for $10.1 billion in cash. The deal is expected to close in mid-2024. This acquisition includes Elahere, an ovarian cancer therapy. The agreement marks the latest advancement in the biotech sector’s ADC field—ADCs being a new class of targeted cancer therapeutics. Pfizer responds to lawsuit filed by Texas Attorney General alleging ‘misrepresentation of COVID-19 vaccine efficacy’. Texas Attorney General Ken Paxton has sued Pfizer, accusing the company of misrepresenting the efficacy of its COVID-19 vaccine. He is seeking over $10 million in penalties and a court order prohibiting Pfizer from publicly discussing its vaccine’s efficacy. Paxton’s central concern is Pfizer’s 2020 claim that its COVID-19 vaccine was 95% effective—“creating the impression that the vaccine would end the pandemic and eliminate the pervasive fear and anxiety among the public.” A Pfizer spokesperson stated in a press release: “We place the safety and efficacy of our medicines and vaccines above all else, and our statements about our COVID-19 vaccine are accurate and scientifically grounded.” Amgen expands partnership with Amazon, ushering pharma into the AI era. To explore ways to improve drug discovery and manufacturing, Amgen is expanding its collaboration with tech giant Amazon. Amgen is strengthening its decade-long partnership with Amazon Web Services (AWS)—a widely used cloud platform—to develop generative artificial intelligence aimed at boosting pharmaceutical production capacity. The two companies aim to deploy this technology to enhance operations and sustainability at Amgen’s upcoming assembly and final-product packaging facility in Columbus, Ohio, scheduled to open next year. Gilead Sciences’ Kite Pharma cell therapy division (CAR-T) is undergoing a business review, resulting in approximately 7% of its workforce departing. Cindy Perettie, Executive Vice President of Kite Pharma, outlined a “new commercial strategy” better aligned with the division’s strategic priorities. A Gilead spokesperson confirmed the restructuring, noting that the layoffs affect 7% of employees but will create around 90 new positions more closely aligned with organizational priorities. The spokesperson added that the net impact amounts to roughly 5%. Roche to issue at least €1 billion in bonds to fund its acquisition of Telavant. Roche plans to issue new euro-denominated bonds to raise additional capital for its $7.1 billion acquisition of Telavant Holdings Inc. Sino Medical appoints Dr. Francois Lebel as Chief Medical Officer. Previously, Dr. Lebel served as Senior Vice President of Preclinical and Clinical Development at the Group since July 2023.

Florida Attorney General sues Pfizer and CEO over COVID-19 vaccine claims

Oct 1, 2026

Florida Attorney General sued Pfizer and its CEO over alleged misleading safety claims and unfair market tactics regarding the COVID-19 vaccine. The state seeks fines and profit restitution following accusations of quadrupling vaccine prices in 2023.

reuters

2026-10-01

Florida Attorney General sues Pfizer and CEO over COVID-19 vaccine claims

Florida Attorney General sues Pfizer and CEO over COVID-19 vaccine claims

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