For Chinese drug research firms, 2025 is shaping up as the year of the mega deal.
Several drug discovery companies have signed licensing agreements with eye-popping headline figures for their promising prototypes that, if clinically successful, could be worth billions of dollars to the developers.
For example, 3SBio (1530.HK) signed over rights to an experimental cancer treatment based on a bispecific antibody to Pfizer for an initial $1.25 billion, setting a record for upfront payments for Chinese drug innovations, while Hengrui Pharma has entered a deal potentially worth $12 billion with GSK.
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