China is the first country to approve a breakthrough narcolepsy drug from Japan’s Takeda Pharmaceutical, underscoring how Beijing’s regulatory overhaul is prompting global drugmakers to debut new therapies in the country ahead of the U.S. and Europe.

Today in Caixin’s Business Brief: - Beijing approves first-in-class drug targeting narcolepsy - China to build charging, battery-swapping stations for electric heavy trucks - Anthropic agrees to $1.5 billion settlement in a lawsuit brought by authors