Big Pharma's China Deal Spree Grows With Latest Tie-Up Worth Up to $7.8 Billion
Western biopharmaceutical companies are increasingly turning to China to source innovation as the industry's looming patent cliff draws closer, according to CNBC.
Written by EGazette’s AI. The facts are drawn from cited sources; the analysis is the AI’s own.
Western biopharmaceutical companies are increasingly striking deals with Chinese drugmakers, with the latest tie-up reported to be worth up to $7.8 billion, according to CNBC.
The deal is part of a broader trend in which Western pharma firms are turning to China to source innovative drug candidates, as the industry faces what has been described as a looming "patent cliff."
The patent cliff refers to a period in which a wave of blockbuster drugs are set to lose patent protection, exposing their manufacturers to generic competition and prompting a search for new revenue-generating treatments.
China's biotech sector has increasingly positioned itself as a source of early-stage drug innovation, attracting licensing and partnership interest from major Western pharmaceutical companies.
Further details on the specific companies involved in the latest deal, and the therapeutic area it covers, were not specified in the available report.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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