Novartis is buying the rights to potential cardiovascular medicines from a Chinese biotech in a deal worth up to $5.2bn, as big pharmaceutical companies become increasingly reliant on Chinese innovation to replenish their drug pipelines.
The Swiss drugmaker has agreed its second collaboration deal with Shanghai-based Argo Biopharma, adding to the record total the sector has spent this year on drugs developed by Chinese biotechs.
Argo specialises in developing drugs using a method called small interfering RNA, or siRNA, to silence genes and stop them producing proteins that create disease.
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