Pfizer in deal with China's 3SBio to licence cancer drug candidate, take equity stake
US drugmaker Pfizer said it would licence an experimental cancer treatment from China's 3SBio Inc, paying $1.25bn (R22.6bn) upfront and up to another $4.8bn (R87bn) if developmental milestones are met.
Pfizer also plans to make a $100m (R1.8bn) equity investment in 3SBio after the transaction closes, which is expected to happen in the third quarter.
Shares in 3SBio surged 35% in Hong Kong trade on Tuesday, valuing the Chinese biopharmaceutical company at nearly $6bn (R108bn).
The drug candidate, SSGJ-707, is being evaluated for non-small cell lung cancer, metastatic colorectal cancer and gynaecological tumors. It is undergoing clinical trials in China and 3SBio plans to initiate the first phase III trial in China this year.
The agreement covers the development, manufacturing and commercialisation of the drug. Pfizer has been granted a global licence, excluding China, and the option to obtain commercialisation rights in China.
3SBio said separately the drug has received clearance from the US Food and Drug Administration for its investigational new drug application.
Pfizer plans to manufacture the drug substance for SSGJ-707 in Sanford, North Carolina, and the drug product in McPherson, Kansas.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Maverick
an hour ago
- Daily Maverick
Mass vaccination of SA poultry launched, Biosecurity Council set up
Getting a grip on these multiple threats to animal health and welfare and the agricultural economy is vital and the Department of Agriculture is clearly signalling that it is taking a proactive approach. The first mass vaccination of poultry in South Africa is being launched to contain avian flu as the agriculture sector also grapples with a spreading outbreak of foot-and-mouth disease infecting livestock that has been detected at the world's largest feedlot, in Gauteng. The Department of Agriculture also announced that it was establishing a Biosecurity Council as it strives to roll '… out a farm to fork national traceability system for livestock' and said it would upgrade the state-run Onderstepoort Biological Products, the main source of animal vaccines in South Africa that has been plagued in recent years by capacity issues. On the avian flu frontlines, Agriculture Minister John Steenhuisen said in a statement that the vaccination team 'has received a list of farms to be vaccinated from the poultry industry and is prioritising high-risk areas and commercial flocks to contain the virus and prevent further culling'. Fifty animal health technicians have been roped in with short-term contracts to assist with the vaccination drive. Critically, the minister said that the department had 'secured vaccine supply' and that Onderstepoort Biological Products was being upgraded '… to restore vaccine self-sufficiency'. The Biosecurity Council will comprise the South African Police Service, veterinarians, scientists, the Border Management Authority, and the industry. Getting a grip on these multiple threats to animal health and welfare and the agricultural economy is vital and the department is clearly signalling that it is taking a proactive approach. South Africa's biggest avian flu threat currently is an outbreak in Brazil — the country's biggest external poultry supplier — which led to a ban on imports three weeks ago. Although the ban is unlikely to cause immediate shortages due to lower seasonal demand and available local supply, it has heightened pressure on domestic producers to manage outbreaks and reinforce biosecurity. The South African Poultry Association (Sapa) said in a statement last month that the ban should not lead to shortages and that the industry had the capacity to increase domestic output. Foot-and-mouth outbreak Meanwhile, an outbreak of foot-and-mouth disease among livestock has spread from KwaZulu-Natal to the Highveld, triggering a Chinese ban on imports of South African beef products. This export curb is seen as boosting domestic supplies, and possibly as a result local beef prices may trend lower. But livestock movements in the country are being disrupted and this will have consequences for supply chains. The Department of Agriculture said it had ordered more than 900,000 doses of vaccines to cover KZN, and the first batch was expected to arrive next week. Karan Beef said this week that a case of foot-and-mouth disease had been confirmed at its Heidelberg feedlot — the world's largest, which produces 100 million kilogrammes of beef annually. The company said in a statement that about 120,000 cattle were currently housed at the facility, and about 2% of the herd was infected. 'No animals are entering or leaving the Heidelberg feedlot during this period. Vaccination efforts are pending availability from the state. Once initiated, a 14-day vaccination programme will commence, followed by a 14-day observation period,' Karan Beef said. 'A controlled slaughter-out process will be implemented once vaccinations are complete, under veterinary supervision. No mass culling is planned at this stage.' The outbreak coincides with the peak weaning season, and Karan Beef said this would disrupt national supply chains. 'Farmers may be forced to hold calves longer than usual due to limited feedlot capacity,' it said. The Department of Agriculture has urged all livestock farmers in South Africa to '… limit animal movement as far as possible'. DM What this means for you For now, chicken shortages or major price spikes are unlikely. Local producers say they can plug the gap left by the Brazil ban, and winter demand is typically lower. Beef prices may fall because of the export curb, but domestic supply chain disruptions also loom. The situation underscores how fragile South Africa's food system is — one outbreak, one trade restriction, and supply chains wobble. For farmers, expect tighter biosecurity checks and more scrutiny around livestock movements — especially if you're near outbreak zones.
The Citizen
3 hours ago
- The Citizen
Omoda C9 PHEV: Here's pricing and specs
Omoda officially launched its potent C9 PHEV in South Africa yesterday. Stay tuned for driving impressions, but in the meantime, here is pricing and specification of the flagship model. Looking for a new or used Omoda C9? Find it here with CARmag! Heralded as the most powerful drivetrain within the Omoda product lineup, the Omoda C9 PHEV is equipped with the Chinese manufacturer's latest wares, which also include a continuous damping control all-wheel system, a sizable 34kWh battery pack and a three-speed dedicated hybrid transmission. What gives it the claim of Omoda's most powerful powertrain is the 440kW and 915Nm derived from a 1.5-litre turbo-petrol engine combined with four electric motors. Related: Review: Omoda C7 SH The SUV offers some decent performance on paper, with Omoda claiming it can hit 100km/h from a standstill in 4.9s which is enough to have it rival some high-end performance SUVs from Europe. This performance may not be the contributing factor for buyers, but instead its 150km pure EV driving range and claimed 1 100km combined range. To replenish the battery, the C9 PHEV is capable of accepting DC fast charging which can get it from 30% to 80% charge in just 25 minutes. At launch, South Africa has only received the full-house Explore model which includes niceties such as 20-inch wheels, Nappa leather upholstery, a panoramic sunroof and heated seats. Other luxury appointments include 256 ambient lighting options to choose from, Android Auto and Apple CarPlay operated on a 25.6-inch display and a head-up display for the driver. Omoda C9 PHEV pricing Omoda C9 PHEV – R999 000 The Chinese automaker offers a 10-year/unlimited range battery warranty which defaults to a 10-year or 200 000km after the first owner. Click here and browse thousands of new and used vehicles here with CARmag! The post Omoda C9 PHEV – Pricing and Specs appeared first on CAR Magazine.
IOL News
4 hours ago
- IOL News
Exploring the South Africa-China Partnership: Insights from the Chinese Consul General
Ayanda Mdluli is the editor of the Daily News. This week, the Daily News had the privilege of delving into an enlightening conversation with Li Zhigong, the Chinese consul-general in Durban, who showcased the extensive prospects that lie in the partnership between South Africa and China. This alliance, underpinned by strategic economic collaboration and cultural exchange, continues to flourish even in the wake of global uncertainty. Li highlighted pressing global issues impacting economic relations, particularly the ongoing tariff war with the United States. He spoke to us about initiatives designed to fortify trade and investment ties between China and South Africa, as well as advancements in education and mutual cultural exchange. As tensions escalate in international relations, particularly between the US and China, the consul-general emphasised that the tariff war extends beyond these two countries, affecting global economic landscapes. 'This is not merely a conflict between China and the USA; it is a concern for the entire world,' he said. This, in my view underscores the significance of collaboration in navigating such challenges. One of the pivotal themes of the discussion centred around energy investments. Li detailed China's commitment to enhancing South Africa's energy sector, revealing plans for new energy projects focused on wind and solar power scheduled for implementation in 2023 and 2024. 'These initiatives will greatly assist South Africa in improving its energy conditions, ultimately benefitting its people,' he explained. Such investments not only address immediate energy needs but also represent a long-term commitment to sustainable development. The consul-general is actively fostering bilateral trade and investment initiatives that bridge South African businesses with the lucrative Chinese markets. Initiatives include facilitating business delegations and organising matchmaking events, alongside supporting significant trade expos. He emphasised with the following comment: 'We assist KwaZulu-Natal businesses in entering the Chinese market while encouraging Chinese enterprises to invest in vital sectors such as mining, logistics, energy, and manufacturing, "Now more than ever, there is a pressing need to bridge the gap, and bring Chinese investors into our communities, especially our township and rural communities. There are already a number of noteworthy Chinese companies operating in South Africa and with more of them going into our communities, it would mutually ensure economic enhancement. The Chinese market is also a vast one, and South African businesses keen on accessing this massive market can leverage bilateral trade agreements and participate in major expos like the China International Import Expo, which has warmly welcomed South African products such as wine, avocados, and soybeans. The consul-general highlighted that provinces like Guangdong and Fujian regularly host trade fairs that provide excellent platforms for cooperation. 'With opportunities in sectors such as the digital economy, green energy, and advanced manufacturing, a growing and diversified market awaits South African companies,' he said. Beyond trade, cultural exchange is another cornerstone that will truly bridge the gap between China and South Africa. The consulate promotes an understanding of Chinese culture through festivals, exhibitions, and language programs. Notable events include celebrations for the Chinese New Year and Mid-Autumn Festival, alongside calligraphy workshops and traditional dance performances. Describing the current diplomatic landscape, Li stated that China and South Africa share a robust strategic cooperative partnership where both nations have prioritised collaboration in critical areas such as infrastructure, renewable energy, and education. As geopolitical dynamics shift, China is committed to strengthening ties with developing nations and remains passionate about the Global South in fostering a mutual atmosphere of growth and cooperation. *Ayanda Mdluli is the Daily News' editor DAILY NEWS
