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IVBXF - Amid Slowing Sales At Home Innovent Biologics Stumbles Overseas
Innovent Biologics Inc
Innovent Biologics terminated a plan to sell its bevacizumab biosimilar in North America with a local partner after trials for the drug fell behind schedule.
The company’s loss tripled last year on growing competition for its core product, whose sales fell 22% in this year’s first-quarter.
Following the prolonged selloff, the company is currently valued lower than many of its peers.