Nov. 30 Quick Takes: BeiGene’s $3.5B hat trick

A $3.5 billion listing by BeiGene Ltd. (NASDAQ:BGNE; HKEX:6160) on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange makes the company the first biotech to be listed on all three exchanges and lends the nascent board the halo of the bellwether’s reputation. China International Capital Corp. Ltd. and Goldman Sachs Gao Hua Securities Co. Ltd. are joint sponsors and joint bookrunners for the deal, with J.P. Morgan Securities (China) Co. Ltd., CITIC Securities Co. Ltd. and Guotai Junan Securities Co. Ltd. joint bookrunners.

FDA could allow the use of Lagevrio molnupiravir from Merck & Co. Inc. (NYSE:MRK) and Ridgeback Biotherapeutics L.P. to treat high-risk COVID-19 patients in the outpatient setting within days after the agency’s antimicrobial advisory committee voted 13-10 in favor of granting the antiviral emergency use authorization. Reasons for voting no given by members of the committee included lower efficacy in the second half of a study when more patients were infected with the Delta variant compared with the first half; skepticism that adherence in the real world would be sufficient for good outcomes; logistical difficulties associated with getting the drug to patients without five days of symptom onset; and concerns over genotoxicity. ...