GSK strikes £370m deal with Chinese rival Jiangsu Hengrui to develop up to a dozen new medicines
The deal with Jiangsu Hengrui Pharmaceuticals comes as GSK focuses on growing its pipeline to negate declining revenues from top drugs and vaccines amid slowing demand and rising competition.
Under the deal, GSK will gain an exclusive licence to Hengrui's HRS-9821, which is being studied as a treatment for chronic obstructive pulmonary disease.
GSK shares rose 0.4 per cent, or 5.5p, to 1398p.
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