Pfizer: strategic alliance with China's CStone
(CercleFinance.com) - On Wednesday Pfizer and China's CStone announced the creation of a strategic alliance including a 200 million dollar equity investment by Pfizer in CStone.
Under the terms of the agreement, Pfizer will gain exclusive rights to market the anti-cancer drug sugemalimab in mainland China, even though CStone will continue to lead the clinical development and regulatory strategy for five selected indications.
In return, CStone could receive up to 280 million dollars in milestone payments and additional tiered royalty payments.
At the same time, CStone and Pfizer will jointly select late-stage oncology assets for joint-development in the Chinese market - either from Pfizer's portfolio or through joint licenses.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Under the terms of the agreement, Pfizer will gain exclusive rights to market the anti-cancer drug sugemalimab in mainland China, even though CStone will continue to lead the clinical development and regulatory strategy for five selected indications.
In return, CStone could receive up to 280 million dollars in milestone payments and additional tiered royalty payments.
At the same time, CStone and Pfizer will jointly select late-stage oncology assets for joint-development in the Chinese market - either from Pfizer's portfolio or through joint licenses.
Copyright (c) 2020 CercleFinance.com. All rights reserved.