In the latest sign that some multinationals are scaling down operations in the world's second-largest pharma market, Mundipharma is reported to be exploring the sale of its business in China, with a large group of bidders including state-owned Sinopharm and local private equity firm Boyu Capital in the running.

Cash-rich private equity firms are eyeing opportunities in healthcare, especially among listed companies with sluggish share prices. The Carlyle Group could be getting a bargain if it seals a deal for the Chippenham-based inhalation specialist.

Following early investor conversations, Laevoroc Oncology has split its leading products into three independent subsidiaries to off-set risk and provide greater choice to future partners. While there is no underlying platform technology, CEO Thomas Mehrling believes the subsidiaries all include potential “game-changing medicines.”

Also, deals involving AbCellera/Angios, AstraZeneca/Alchemab, Kowa/Esteve, OSE/Veloxis, Tris/Park, Core One/Akome and Vertex/Obsidian.