BeiGene Ties Up With Novartis To Take PD-1 Global In $2.2bn+ Deal
Bets on China Data, Differentiation Strategy
BeiGene has teamed up with Novartis to take its PD-1 antibody global after an earlier major deal with Celgene was terminated following the BMS acquisition, and amid intense market and pricing competition in the immuno-oncology sector in China.
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Already priced domestically at a deep discount to counterpart PD-1s in the US, Beigene's tislelizumab could potentially get the first global approval for a China-originated drug in this class, as the immuno-oncology sector as a whole continues to come under pressure in China.
Novartis has filed the PD-1 inhibitor tislelizumab, licensed from BeiGene, for second-line esophageal cancer with the FDA, the first submission outside China for the closely-watched therapy.
As Vas Narasimhan spoke about his worries of missed diagnoses and worse outcomes, Q1 sales at the Swiss major's cancer business remained flat as new patient starts, physician visits and cancer screenings declined due to COVID-19.