Novartis has signed a deal worth up to $7.8 billion with Chinese company Abogen Biosciences, including $575 million upfront and $7.2 billion in milestone payments, for global rights to an mRNA therapy targeting an autoimmune disease. Danish drugmaker Novo has entered a licensing agreement with Hengrui Pharma for a weekly GLP-1/GIP obesity drug worth up to $2.6 billion, while Britain’s GSK is acquiring a blood cancer medicine from Chimagen Biosciences for $750 million. Bank ING estimates that China will account for approximately one-third of all new molecules in global pharma pipelines by 2026, up from 4% in 2014, and that the value of Chinese biotech outlicensing deals will exceed $250 billion in 2026.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
