Hansoh Pharmaceutical Group Co. Ltd. has taken a new step in the evolution of China’s “newco” strategy, combining its newly created U.S. company, Avere Therapeutics Inc., with Nasdaq-listed Nextcure Inc. in a deal designed less to merge pipelines than to create a public vehicle for global development of a China-originated asset.

Branded Lipfendra, Merck & Co. Inc.’s oral PCSK9 inhibitor enlicitide, part of the FDA Commissioner’s National Priority Voucher pilot program, won U.S. approval to reduce low-density lipoprotein cholesterol (LDL-C) in adults with hypercholesterolemia, including heterozygous familial hypercholesterolemia.

Hansoh Pharmaceutical Group Co. Ltd. has taken a new step in the evolution of China’s “newco” strategy, combining its newly created U.S. company, Avere Therapeutics Inc., with Nasdaq-listed Nextcure Inc. in a deal designed less to merge pipelines than to create a public vehicle for global development of a China-originated asset.