China Deal Watch: Four Biotechs Kick Off May With Multiple In/Out Deals
Four Chinese biotech companies reach in- and out-licensing deals covering antibody drug conjugates, small molecules and vaccines as they continue to pursue and develop innovation.
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During Q2, biopharma merger and acquisition value reached $25.4bn and drew in $27.3bn in potential deal value from alliances. Device company M&A values reached $2.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $534.3m.
Taiho will pay Cullinan Oncology up to $405m for their joint venture and lead candidate for a form of lung cancer. Plus deals involving Zhaoke/Visus, AnGes/Eiger, Juniper/Helsinn, Peak Bio and more.
After slashing the prices of their blockbuster drugs to gain wider patient access through China's main reimbursement program, multinationals are now beginning to face increasing challenges from local competitors.