AstraZeneca has agreed a licensing deal worth up to $4.7bn with Chinese group CSPC Pharmaceuticals to develop weight-loss and diabetes drugs, as it seeks to expand in the fast-growing market.
The UK-listed drugmaker said it would pay $1.2bn upfront and potentially another $3.5bn if regulatory and development milestones are met. The deal gives it access to SYH2082, CSPC’s once-monthly injectable drug candidate that is about to start early-stage clinical trials, as well as three other weight-management drug candidates.
AstraZeneca will own global rights for the drugs excluding China, Taiwan, Hong Kong and Macau.
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