Pfizer and Innovent Biologics Announce $10.5 Billion Oncology Deal
Pfizer has entered into a significant oncology deal with China's Innovent Biologics, valued at up to $10.5 billion. The agreement involves collaboration on 12 cancer drug trials, boosting Innovent Biologics' shares.
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Innovent Biologics shares rise 10% after pact with Pfizer of up to $10.5 billion
Innovent Biologics rose as much as 10%, after entering a strategic global licensing and collaboration agreement with Pfizer to develop oncology medicines.
Read full article →China’s Innovent Biologics signs US$10.5 billion Pfizer deal for 12 cancer drug trials
China’s Innovent Biologics has signed a global collaboration with pharmaceutical giant Pfizer worth up to US$10.5 billion to jointly develop 12 cancer treatment programmes. The Hong Kong-listed drug maker said it would receive an upfront payment of US$650 million from Pfizer, and it is eligible for up to US$9.85 billion tied to development, regulatory and commercial milestone payments, according to an exchange filing on Friday. Innovent, which is based in Suzhou in China’s eastern Jiangsu...
By Julie Zhang
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