US Pharma's China Drug Bet and Global Health Updates
The U.S. pharmaceutical sector is expanding ties with China by licensing molecules for new drugs, as shown by 14 deals worth $18.3 billion through June. Meanwhile, Purdue Pharma's $7.4 billion opioid settlement gains national support, and extreme hunger threatens global hotspots, according to a UN report.
The pharmaceutical landscape is shifting as U.S. drugmakers increasingly partner with Chinese firms to access potential blockbuster drugs. Data reveals 14 such licensing agreements, valued at $18.3 billion, signed by June, a significant rise from previous years, highlighting the sector's aggressive strategy towards tapping into promising medications.
In a key legal development, Purdue Pharma's $7.4 billion opioid settlement has garnered widespread support from the attorneys general of 55 U.S. states and territories. The backing is pivotal for securing court approval for Purdue's bankruptcy reorganization, following a framework outlined in January by the New York Attorney General.
Meanwhile, new warnings from the UN highlight an escalating hunger crisis in global hot spots such as Gaza and Sudan. The UN report attributes the dire circumstances to conflict, economic upheaval, and climate-related challenges, urging immediate humanitarian intervention to prevent famine.
(With inputs from agencies.)
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