GSK signed a 12-asset licensing deal with Hengrui Pharma. Generic erosion on Vyvanse continued to hurt Takeda. Celltrion is nearing the purchase of a large U.S. facility to help mitigate the impact of tariffs. And more.\n\n1. GSK strengthens COPD offering via $12B biobucks, 12-program deal with China's Hengrui Pharma\n\nGSK has inked a large licensing deal with China’s Hengrui Pharma covering up to 12 assets. The British pharma is gaining a PDE3/4 inhibitor currently in clinical development for chronic obstructive pulmonary disease, as well as options to take over 11 other programs once Hengrui completes its phase 1 trials. The deal includes $500 million upfront and up to $12 billion biobucks.\n\n2. Takeda wades through more Vyvanse declines, muses DTC model as US pricing uncertainty looms\n\nTakeda’s quarterly revenues from April to June sank 8.4% year over year to 1.1 trillion yen ($7.3 billion), partly because of the generic erosion of the company’s ADHD med Vyvanse. Still, Takeda's CFO said the hit was expected as the firm maintained its full-year 2025 outlook. Meanwhile, Takeda is considering applying a direct-to-consumer model for some of its drugs, U.S. business head and CEO-to-be Julie Kim said.\n\n3. Celltrion closes in on US plant purchase, dubbing drug substance facility 'fundamental' to tariff mitigation\n\nCelltrion is nearing a deal to buy a large-scale drug substance plant in the U.S. from an undisclosed global pharma, Reuters reports. The Korean company plans to invest about $504 million in the acquisition and operation of the facility, CEO Seo Jung-Jin said during an event. In a letter to shareholders, Celltrion referred to the biologics plant acquisition as “a fundamental solution to the tariff issue.”\n\n4. Madrigal pens $2B pact for CSPC's preclinical GLP-1 with eye on Rezdiffra MASH pairing\n\nMadrigal Pharmaceuticals is paying $120 million upfront for a preclinical GLP-1 receptor agonist from China’s CSPC Pharmaceutical. The plan is to pair the drug, dubbed SYH2086, with Madrigal’s Rezdiffra, which last year became the first FDA-approved therapy for metabolic dysfunction-associated steatohepatitis. The deal includes up to $2 billion in milestones.\n\n5. Instil's licensed PD-L1xVEGF bispecific shows promise in China, instilling hope for upcoming US test\n\nImmuneOnco Biopharmaceuticals’ PD-L1xVEGF bispecific IMM2510, used together with chemotherapy, induced partial responses in 62% of first-line patients with advanced non-small cell lung cancer enrolled in a China phase 2 trial. Responses were seen in eight of 10 squamous patients and five of 11 nonsquamous patients. Instil Bio recently got the FDA’s approval to test the drug in a phase 1b/2 trial in the U.S.\n\nOther News of Note:\n\n6. Sun Pharma, Taro agree to $200M settlement in generics price-fixing litigation\n\n7. Chinese antibody developer Leads Biolabs hits Hong Kong stock exchange in $189M IPO\n\n8. J&J, Legend crunch the multiple myeloma numbers in first Carvykti TV ad\n\n9. Olympus forms build-to-buy GI robotics startup with Revival Healthcare Capital\n\n10. Kissei pays Viridian $70M to challenge Amgen for Japanese eye disease market

Fierce Pharma Asia—GSK's massive Hengrui deal; Takeda's revenue drop; Celltrion's major US plant buy

The article highlights key developments in the pharmaceutical industry, including GSK's $12 billion licensing deal with Hengrui Pharma, Takeda's revenue decline due to Vyvanse generic erosion, Celltrion's $504 million U.S. plant acquisition, and other deals involving Madrigal, Instil, and multiple biotech firms.