The licensing and collaboration agreement with Chinese company Kelun-Biotech involves the development of seven antibody-drug conjugates candidates against oncology targets.
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This is the first foreign coronavirus vaccine to be delivered to China. It will be administered initially to German expatriates.
The Biden administration said Thursday it had removed Wuxi Biologics, a company that makes ingredients for AstraZeneca’s COVID-19 vaccine, and about two dozen other Chinese entities from a so-called unverified list that forces U.S. suppliers to perform greater due diligence before shipping to them.
COVID-19 infections were exploding in China well before the government’s decision to abandon its strict “zero-COVID” policy, a World Health Organization director said on Wednesday, quashing suggestions that the sudden reversal caused a spike in cases.
The acquisition, which is expected to close in the first half of 2023, according to a joint statement on Sunday, comes amid a slowdown in merger and acquisitions activity in the U.S. life sciences sector.
Summit Therapeutics Inc. said on Tuesday it would license China-based Akeso Inc.’s experimental cancer therapy in a deal worth up to $5 billion, sending its shares up 57% in premarket trade.
The company is in discussions with Chinese authorities over regulatory approval of the German biotech firm’s COVID-19 vaccine for use by expatriates in China but the outcome was uncertain.
German Chancellor Olaf Scholz announced an agreement on Friday to let expatriates in China use the COVID-19 vaccine from Germany’s BioNTech and pressed for Beijing to allow the shot to be made freely available to Chinese citizens.
China ordered an industrial park that houses an iPhone factory belonging to Foxconn to enter a seven-day lockdown on Wednesday, in a move set to intensify pressure on the Apple supplier as it scrambles to quell worker discontent at the base.
China has blocked GSK from participating in its national bulk-buy drug procurement program from Oct. 31 until April 29, 2024 over quality problems with a prostate drug, the British drugmaker said on Monday.