Betta Pins Hopes On New Overseas JV Amid Challenges
Betta Pharmaceuticals hopes strategic initiatives overseas will facilitate its diversification away from a single dominant oncology product. The Chinese firm is facing increasing competition from domestic generics, with revenues and profits under pressure.
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French biotech expands fibrosis partnership with Boehringer Ingelheim, and a co-development pact with AbbVie around ROR gamma inverse agonists. Helsinn signs on to detail Novartis' Zykadia in the US.
Betta CEO Yinxiang Wang is moving on to focus on a drug discovery incubator while another board director, Zai Lab's Samantha Du, has also resigned. Executive changes are also underway at Japanese drug startup PeptiDream.
R&D-based big pharma groups in China with sufficient cash flow are increasing their strategic investments in overseas companies and products with an eye on entry to the global market, while start-ups continue to actively raise new funds from venture capitalists.