With the first half of 2022 ending, two Chinese developers of innovative drugs - antibody specialist Chongqing Genrix Biopharmaceutical and Suzhou Teligene, which focuses on small molecules, are looking to go public on Shanghai’s STAR Market, ending a recent drought of biopharma listings.

While many pharma firms in China choose to partner with US companies, Jiangsu Hengrui is relying on itself to go global. The Chinese pharma giant is betting on its newly established US subsidiary Luzsana in a major move to make its wide-ranging products more available, accessible and affordable to patients in the US and the rest of the world.

China's main pharma hub of Shanghai reported sector output has plunged by more than half due in large part to the prolonged lockdown, while 58% of surveyed foreign companies in China across all industries project declining revenue.

In this week's podcast version of Five Must-Know Things: a US setback for UCB; Lilly challenges Novo’s GLP franchise; Seagen searches for CEO after scandal; Hengrui hopes for US PD-1 success; and a look ahead at ASCO.