Human papillomavirus type 11 L1 capsid protein antigen

Top 20 biopharmaceutical companies saw a 2% market cap increase to $4.3trn in Q3 2024, driven by FDA approvals and strategic alliances, despite some declines.

Eli Lilly invests $212 million to expand its Suzhou plant, following China's approval of its weight loss drug Zepbound. Other pharmaceutical giants like Bayer and Roche also expand in China, highlighting the sector's resilience amid economic challenges. China's healthcare sector reforms and large market attract foreign investment, despite pricing pressures and competition from local firms. Multinationals increasingly partner with Chinese biotech companies for innovation and market access.

Eli Lilly missed Q3 estimates, lowered guidance; Merck beat estimates, initiated phase III study; Pfizer beat estimates, raised 2024 guidance; AbbVie beat estimates, acquired Aliada, collaborated with EvolveImmune; Novartis beat estimates, raised 2024 expectations, FDA approved Scemblix expansion.

Merck's Q3 revenue and adjusted earnings exceeded expectations, driven by strong sales of Keytruda, new treatments, and animal health products. However, Gardasil sales fell 11%, missing forecasts. The company narrowed its full-year sales forecast and lowered adjusted profit guidance, reflecting a one-time charge. Merck's pharmaceutical division revenue rose 5%, with Keytruda sales up 17%. Despite challenges, Merck anticipates significant drug launches over the next five years.

The biopharmaceutical industry saw a 2% upturn in aggregate market capitalization to $4.3 trillion in Q3 2024, driven by FDA approvals and interest rate cuts. Bristol-Myers Squibb, Gilead Sciences, Sanofi, AbbVie, and Alnylam Pharmaceuticals led with over 10% growth. Novo Nordisk and Merck faced declines due to FDA rejections and sales drops.

Merck developed CAPVAXIVE, a one-dose pneumococcal vaccine for adults, targeting 21 serotypes covering 85% of invasive disease in the U.S., addressing the limitations of existing vaccines.

Exelixis and Merck announce clinical collaboration to evaluate zanzalintinib with KEYTRUDA in HNSCC and with WELIREG in RCC, aiming to address unmet needs. Exelixis retains global rights to zanzalintinib, while Merck supplies KEYTRUDA and funds part of the RCC trials.

Vaccine pioneer Peter Kim will discuss vaccine development, focusing on cervical cancer and COVID-19 vaccines, and the challenge of an HIV vaccine, in the Ef Racker Lecture on Oct. 3. Kim, a Stanford professor and former Merck president, will also present on 'New Frontiers for Vaccines against Infectious Disease' on Oct. 4.

Commercializing medical innovations is risky, expensive, and time-consuming, often taking over $1 billion and 15 years. Despite Australia's strong research ranking, it lags in commercialization, ranking 30th for research outputs. Government support, including the National Reconstruction Fund and Medical Research Future Fund, is crucial. Access to funding remains a challenge, but superannuation investments could help. Patient-centric innovations and clinical entrepreneurs are vital, with programs like MTPConnect's Australian Clinical Entrepreneur Program addressing skills gaps. Supporting startups and SMEs can boost commercialization, create jobs, and enhance national capability.

Merck's stock has risen 72% in 5 years, driven by Keytruda's success, but faces uncertainty as Keytruda's patent expires in 2028. Merck forecasts 2024 revenue growth of 5-7% and seeks new blockbusters, while competition from biosimilars and alternative treatments poses risks.