Sanofi is pulling its PCSK9 drug Praluent from the Chinese market. President Donald Trump said U.S. pharmaceutical tariffs may eventually reach 250%. A venture capital crunch in Southeast Asia is pushing investors to be more selective, a PitchBook analysis found. And more.

1. Sanofi pulls cholesterol drug Praluent from China amid increased competition (Yicai)
Sanofi has decided to pull its cholesterol drug Praluent from the Chinese market. The company cited increased competition from other PCSK9 drugs that are included in China’s national reimbursement list, as well as supply chain challenges for active pharmaceutical ingredients, as reasons for the decision. China has approved seven PCSK9 meds, including four from domestic companies.

2. Trump ups the ante on pharma tariffs, saying they will reach 250%
President Donald Trump told CNBC that the United States' initial tariff on pharmaceuticals will be “small” but will grow to 150% in a year or 18 months, and then to 250%. Trump added that the new drug tariff rates would be announced “within the next week or so.” Trump’s comment suggests that the Section 232 investigation that could support his tariff decisions on drugs may be nearing a conclusion.

3. Early-stage venture market in contraction in Southeast Asia: PitchBook
Early-stage venture capital activity in Southeast Asia has declined significantly since a boom in 2022, a PitchBook analysis found. Deal value dropped from $7.3 billion in 2022 to just $1.9 billion so far this year, while deal counts dropped from 880 to 112 during the two periods. The tougher fundraising environment has made venture funds more selective, “resulting in smaller but higher-quality portfolios that are less driven by hype cycles and more aligned with long-term value creation,” PitchBook analyst Melanie Tng said in a new report. As such, emerging sectors such as biotechnology and medical technology are also gaining traction, especially among specialist investors, she said.

4. Biogen raises sales outlook as Leqembi awaits FDA decision on new dosing option
Eisai and Biogen’s Leqembi has shown some growth. In the three months ended in June, Eisai recorded global Leqembi sales of 23.1 billion yen ($157 million), a 57% jump from 14.7 billion yen in the prior quarter. The increase came partly thanks to stockpiling in China amid global tariff worries, Eisai said.
The pair also rolled out four-year data from the open-label extension study of Clarity AD, showing a more pronounced reduction in cognitive decline, as measured by the clinical endpoint CDR-SB, versus three years, when Leqembi was compared against the expected decline from external cohorts.

5. Minghui raises $131M 'pre-IPO' round to bankroll JAK inhibitor launch, ADC trials
China’s Minghui Pharmaceutical has raised $131 million ahead of a planned IPO. The Shanghai biotech said some of the money will be used to support the company’s pipeline, including a PD-1xVEGF bispecific and a TROP-2-directed antibody-drug conjugate. The money will also go toward a potential launch in China of MH004, a pan-JAK inhibitor cream, as an application is under review by local regulators.

Fierce Pharma Asia—Sanofi pulls Praluent in China; Trump updates drug tariff threat; An early-stage capital crunch

Sanofi withdrew its cholesterol drug Praluent from the Chinese market due to competition and supply issues. President Trump warned of potential U.S. pharmaceutical tariffs reaching 250%. A PitchBook analysis revealed a decline in Southeast Asian venture capital activity, while Biogen reported growth in Leqembi sales. China’s Minghui Pharmaceutical raised $131 million for drug development.