Pharma's Billion-Dollar Bet on China sizzles amid Global Health Challenges

U.S. drugmakers are setting their sights on Chinese firms in hopes of licensing promising molecules to develop new treatments, with 14 agreements amounting to $18.3 billion signed this year alone. This marks a significant increase compared to just two deals last year, highlighting growing confidence in China's pharmaceutical capabilities.

The United Nations recently sounded an alarm on escalating hunger issues in 13 global hotspots, naming Gaza, Sudan, and Haiti among the most critical cases requiring urgent action. According to the joint report by the FAO and WFP, conflict, climate change, and economic disruptions are exacerbating these conditions.

In financial markets, Caris Life Sciences, backed by Sixth Street, increased the price range for its IPO, indicative of robust investor interest. The diagnostics firm now aims for a valuation of up to $5.67 billion, with the potential to raise $470.6 million.

(With inputs from agencies.)