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Rising biotech deals involving Chinese drugs, Takeda's positive OX2R readouts, and LaNova's acquisition by Sino Biopharm made our news this week. Biotech deals involving assets developed in China are surging, a Jefferies report shows. Takeda is preparing its narcolepsy candidate oveporexton for an FDA filing after two positive phase 3 readouts. Merck & Co.'s PD-1xVEGF partner is being acquired. And more.1. China biotechs ‘reshaping’ US biopharma as outlicensing deals rise 11%: Jefferies reportAbout a third of biopharma’s outlicensing deal value in the first quarter of 2025 centered on Chinese assets, versus 21% during the same period in both 2024 and 2023, according to Jefferies. Since 2022, China biotechs have developed 639 first-in-class drug candidates, a sharp rise compared with prior years, Jefferies tallied.2. Takeda’s narcolepsy blockbuster hopeful secures double phase 3 wins, teeing up FDA filingTakeda’s OX2R agonist oveporexton has hit the mark in two phase 3 narcolepsy trials. The FirstLight and RadiantLight trials met their primary endpoints showing statistically significant improvements for the drug compared with placebo in excessive daytime sleepiness, as measured by the Maintenance of Wakefulness Test at week 12. The company is now preparing for an FDA approval filing.3. Sino Biopharm buys Merck's PD-1xVEGF bispecific partner LaNova for up to $951MLaNova Medicines, from which Merck & Co. recently licensed a PD-1xVEGF bispecific candidate, is being bought out by Chinese compatriot Sino Biopharmaceutical in a deal worth up to $951 million. In addition, LaNova also provided AstraZeneca with a GPRC5D-targeting antibody-drug conjugate. Before the LaNova transaction, very few, if any, Chinese pharmas have acquired innovative domestic biotechs.4. For Lundbeck and Otsuka's PTSD filing, FDA questions Rexulti efficacy after failed phase 3For an upcoming advisory committee meeting, the FDA flagged “discordant results” from two phase 3 trials that Lundbeck and Otsuka are using in their application for Rexulti, in combination with Viatris’ Zoloft, as a treatment for post-traumatic stress disorder. The FDA is asking experts to weigh in on whether an exploratory phase 2 study can overcome one negative phase 3.5. Otsuka inks $613M deal for Swedish biotech's autoimmune antibodiesOtsuka is paying $33 million upfront for Cantargia’s IL1RAP antibody, CAN10, as well as a backup candidate, against autoimmune and inflammatory disorders. The deal also includes up to $580 million in milestone payments and gives the Japanese drugmaker exclusive first rights of negotiation for Cantargia’s next-gen IL1RAP programs.6. Sun Pharma's alopecia med Leqselvi hits US market after Incyte patent settlementSun Pharma has reached a patent settlement with Incyte so the Indian company can launch its JAK inhibitor Leqselvi in the U.S. for severe alopecia areata. Sun will pay an undisclosed upfront payment plus royalty payments until the related patents expire. The deal ended a lawsuit in which Incyte claimed that Leqselvi would infringe on patents around its blockbuster ruxolitinib.7. FDA hands down citations to 3 drugmakers after inspections found contamination, testing concernsMeanwhile, a Sun Pharma plan in Gujarat, India was subject to a 19-page, eight-observation Form 483 following an FDA inspection in June. Some citations, such as “poor aseptic behavior and inadequate environmental monitoring,” had previously been flagged in an FDA warning letter in 2022. Separately, a Daewoo Pharm site in Busan, Korea, and a Glenmark facility in Madhya Pradesh, India, received FDA warning letters.Other News of Note:8. Astellas reports 22% sales bump for Izervay, expects trend to continue this year9. China sentences Astellas exec to 3.5 years in prison for espionage (Bloomberg)10. Hengrui's GLP-1/GIP agonist reports 18% weight loss in phase 3 trial, readies China push11. Acumen taps JCR’s blood-brain barrier tech for $555M Alzheimer’s deal12. GSK expands Medicines Patent Pool deal to allow generic production of cabotegravir for HIV treatment13. Kowa licenses Nicox’s intraocular pressure eye drop for up to €191.5M (release)14. Korea’s Illimis raises $42M series B to advance Alzheimer’s candidate (release)