In a significant move, Pfizer has finalized a global licensing agreement with the Chinese biotech company 3SBio for their cancer drug, SSGJ-707. The deal, initially announced in May, involves an upfront payment of US$1.25 billion to 3SBio, granting Pfizer exclusive rights to market the drug outside of China. Furthermore, Pfizer will invest up to US$150 million to develop and commercialize SSGJ-707 within China. As part of the agreement, Pfizer will acquire a 1.3 percent equity stake in 3SBio by purchasing 31.1 million new shares at a discounted rate. This strategic partnership highlights the growing influence of Chinese biotech firms in drug research and the rising interest from international pharmaceutical giants in their innovations.
Has Pfizer secured a global licensing deal for 3SBio’s cancer drug?
