Global and APAC Biopharma Watch: Capital Raising, Clinical Expansion, and Industry Moves in Focus

On March 12, 2026, global biotechnology and pharmaceutical markets were in focus on Thursday as investors tracked a mix of obesity drug data, clinical research investment and manufacturing expansion in APAC region.

Among the most closely watched updates, Regeneron and Hansoh Pharma reported phase 3 results for olatorepatide, a dual GLP-1/GIP receptor agonist, showing average weight loss of more than 19% after 48 weeks. The drug’s efficacy was described as comparable to Eli Lilly’s Zepbound, while gastrointestinal side-effect rates were lower, placing the candidate firmly in the fast-growing global obesity treatment race.

In the United States, Dianthus Therapeutics was set to close an upsized public offering worth about $625 million to support next-generation autoimmune disease programs. Capricor Therapeutics was preparing to release fourth-quarter and full-year 2025 results, while Codexis outlined 2026 priorities after reporting 2025 results, including plans to secure a major CDMO partnership and pursue a licensing agreement with a large pharmaceutical company.

Across Asia, companies and governments continued to build out research and manufacturing capacity

In China, LabConnect opened a new central laboratory in Wuxi in partnership with Teddy Laboratory (Frontage Laboratories) to support multi-regional clinical trials. JD Health (6618.HK) continued to expand its digital healthcare strategy with greater emphasis on AI-assisted diagnostic tools. China was also pushing ahead with higher spending on basic research under its latest five-year plan, with an emphasis on first-in-class biotechnology innovation and domestic self-reliance. Industry attention was also on BIOCHINA 2026 in Suzhou, where executives gathered to discuss drug development and clinical strategy.

In Japan, FUJIFILM Corporation invested in VALANX Biotech to strengthen its position in the antibody-drug conjugate (ADC) CDMO segment. Precision for Medicine opened a new office in Tokyo to expand local clinical research operations. Kyowa Kirin said Abdul Mullick would formally assume the chief executive role in March 2026 following a transition period under Chairman Masashi Miyamoto. Japan’s cost-effectiveness assessment panel also approved a revised framework for fiscal 2026 drug pricing reform, including a first-time “G1” price cut rule for long-listed original biologics.

In South Korea, Antengene secured reimbursement for Xpovio (selinexor) for adults with multiple myeloma following a decision by the National Health Insurance Service, expanding patient access in the market. Korea’s broader clinical research sector also remained a key draw for multinational drugmakers. Global pharmaceutical investment in Korean clinical research rose 74% between 2020 and 2024, and Roche recently committed about $480 million, or roughly 710 billion won, in cooperation with the Korean government to support the country’s ambition to become a global hub for clinical trials and biotechnology innovation.

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Oscar Wu

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