In today’s briefing:
- APAC Healthcare Weekly (Dec 8)- Eoflow, Celltrion, Takeda, Medipal, SanBio, Aurobindo Pharma
- Southeast Asia Shines as Chinese Clean-Energy Firms’ Traditional Markets Dim
- Structural Shift in China’s Energy Mix (Part 1, EVs)
- Structural Shift in China’s Energy Mix (Part 2, LNG Trucks)
APAC Healthcare Weekly (Dec 8)- Eoflow, Celltrion, Takeda, Medipal, SanBio, Aurobindo Pharma
- Eoflow Has been ordered by the U.S. Court to pay $452M as damages. Celltrion has submitted clinical trial application for CT-P44 (Darzalex biosimilar) to the FDA.
- Takeda Pharmaceutical entered into an exclusive licensing agreement to develop and commercialize a late-stage oncology drug candidate. Medipal and JCR Pharmaceuticals initiated the Phase I/II trial of JR-446 in Japan.
- SanBio has completed second production run for Akuugo suspension for intracranial implantation. Aurobindo Pharma’s U.S. arm Eugia has received final approval from the FDA to manufacture and market Pazopanib Tablets.
Southeast Asia Shines as Chinese Clean-Energy Firms’ Traditional Markets Dim
- Chinese clean-energy companies should increasingly look to Southeast Asia for its abundant resources and growing electric-vehicle (EV) market, experts said, as their prospects in Europe dim amid tighter regulations.
- Chinese companies’ overseas expansion was a key focus at the 2024 ESG and Sustainable Business Ecosystem Conference in Beijing on Friday, where entrepreneurs, investors, scholars and industry experts also explored how artificial intelligence (AI) could help China meet its dual-carbon goals, among other issues.
- “Southeast Asia … has both demographic dividends and rich natural resources,” said Zheng Wendan of Singapore advisory firm Alliance For Good, at the environmental, social and governance (ESG) event, organized by Beijing-based tech firm For Good and the China Business Journal.
Structural Shift in China’s Energy Mix (Part 1, EVs)
- China’s EV sales surpassed ICE car sales for five straight months. From January to November 2024, EV wholesales totalled 11.2 million.
- China’s EV sales reached a record 1.467 million units in November, marking 53% YoY growth and surpassing one million units for the fourth consecutive month.
- China’s EV sales are projected to hit 12 million units in 2024, 48.1% YoY increase from 8.1 million in 2023. In 2020, only 1.1 million units were sold in China.
Structural Shift in China’s Energy Mix (Part 2, LNG Trucks)
- From January to August 2024, LNG trucks captured 42% of China’s heavy-duty truck market, up from 9% in 2022. This is expected to displace 8% of diesel demand this year.
- China’s diesel demand dropped 11% YoY in H1 2024 and is expected to fall 2%-7% in H2, while LNG consumption is projected to rise 7.7% YoY in 2024.
- In 2023, LNG truck sales surged 307% YoY to 152,000 units, with sales up another 104% in H1 2024, driving an 8.7% increase in natural gas consumption.
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