STAT+: Pharma tries to tamp down broad China restrictions

STAT PlusNewsletterThe Readout Pharma tries to tamp down broad China restrictions AI-focused VC firm raises $800M, Merck’s new cholesterol pill, and more biotech news from The Readout Manage alerts for this article Email this article Share this article By Elaine Chen and Daniel PayneJuly 22, 2026 Elaine Chen[email protected]Elaine’s stories explore the boom in new obesity treatments, new drug payment models, the ways companies are affected by FDA changes, and the emerging psychedelics drug sector. She co-writes The Readout newsletter, and co-hosts STAT’s weekly biotech podcast, The Readout Loud. You can reach Elaine on Signal at elaineywchen.70.Daniel Payne[email protected]Daniel covers the intersection of the health industry and the federal government. He reports on corporate influence in government, the health consequences of federal policies, and the politics of health care. Confidential tips can be sent on Signal at danielp.100. Want to stay on top of the science and politics driving biotech today? Sign up to get our biotech newsletter in your inbox. Good morning. All my social media feeds have been filled with Jimothy the raccoon, and I hope your feeds now will be too.Advertisement The need-to-know this morning Celldex Therapeutics said its experimental drug barzolvolimab failed in a Phase 2 study in the skin condition prurigo nodularis, sending its shares down in premarket trading. The company is continuing to test the drug in a number of other indications, with data expected in September or October from Phase 3 trials in chronic spontaneous urticaria, which causes chronic hives. Summit Therapeutics released updated survival data from its Phase 3 HARMONi trial testing the drug ivonescimab in a form of non-small cell lung cancer. The FDA is set to make an approval decision on the drug in the disease by Nov. 14. Pharma tries to tamp down broad China restrictions From STAT’s Daniel Payne: Pharmaceutical leaders are trying to convince policymakers to back off pushes for aggressive restrictions on investments in Chinese firms. STAT+ Exclusive Story Already have an account? Log in This article is exclusive to STAT+ subscribers Unlock this article — plus in-depth analysis, newsletters, premium events, and news alerts. Already have an account? Log in Monthly $39 Totals $468 per year $39/month Get Started Totals $468 per year Starter $30 for 3 months, then $399/year $30 for 3 months Get Started Then $399/year Annual $399 Save 15% $399/year Get Started Save 15% 11+ Users Custom Savings start at 25%! Request A Quote Request A Quote Savings start at 25%! 2-10 Users $300 Annually per user $300/year Get Started $300 Annually per user View All Plans To read the rest of this story subscribe to STAT+. Subscribe Log In biotechnology, drug development, Drug prices, research Submit a correction requestReprints Elaine Chen National Biotech Reporter Elaine’s stories explore the boom in new obesity treatments, new drug payment models, the ways companies are affected by FDA changes, and the emerging psychedelics drug sector. She co-writes The Readout newsletter, and co-hosts STAT’s weekly biotech podcast, The Readout Loud. You can reach Elaine on Signal at elaineywchen.70. Daniel Payne Washington Correspondent Daniel covers the intersection of the health industry and the federal government. He reports on corporate influence in government, the health consequences of federal policies, and the politics of health care. Confidential tips can be sent on Signal at danielp.100. Newsletter Understand how science, health policy, and medicine shape the world every day Recommended D.C. Diagnosis July 21, 2026 STAT Plus: Rare disease drugmakers try to avoid Trump price cuts Biotech July 21, 2026 STAT Plus: Broad Institute, partners unveil new initiative to develop gene therapies for rare diseases Advertisement The Readout July 21, 2026 STAT Plus: Anthropic deepens work with rare disease drugs Pharma July 21, 2026 STAT Plus: Makers of rare disease drugs seek exemption from Trump’s price-cut pilots Exclusive July 20, 2026 STAT Plus: A most-wanted fugitive appears to have been secretly working as a biotech executive Subscriber Picks