Mitsubishi Tanabe Pharma paid $1.1bn to acquire the Israeli biotech in 2017 for a drug that analysts forecast to represent a market opportunity worth up to $1.7bn in peak sales.

Scrip wraps up major R&D and corporate developments for Korean biopharmas in 2022 and outlines what lies ahead for them in the new year.

LegoChem’s hefty out-licensing deal with Amgen seems to further prove global pharma’s keen interest in the Korean ADC leader’s technology, said to be differentiated with safer margins.

With only weeks to go in 2022, the three major pharmas each had inked between 16 and 20 deals. Meanwhile, Pfizer has been less busy with 12 deals, but those include M&A totaling $18.2bn.