Latest news with #3SBioInc
New Straits Times
20-05-2025
- Business
- New Straits Times
Pfizer in deal with China's 3SBio to license cancer drug candidate, take equity stake
KUALA LUMPUR: US drugmaker Pfizer said it would license an experimental cancer treatment from China's 3SBio Inc, paying US$1.25 billion upfront and up to another US$4.8 billion if developmental milestones are met. Pfizer also plans to make a US$100 million equity investment in the Chinese biotechnolgoy company after the transaction closes, which is expected to happen in the third quarter. Shares in 3SBio surged 35 per cent in Hong Kong trade on Tuesday, valuing the Chinese biopharmaceutical company at nearly US$6 billion. The deal underscores solid demand for Chinese assets from global pharmaceutical firms looking to replenish their drug pipelines and boost their presence in the China market, even as the trade war between Beijing and Washington and potential U.S. tariffs on pharmaceuticals pose risks to the sector. The licensed drug candidate, SSGJ-707, is being evaluated for non-small cell lung cancer, metastatic colorectal cancer and gynaecological tumors. It is undergoing multiple 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 license, excluding China, as well as the option to obtain commercialisation rights in China. 3SBio said separately that the drug has received clearance from the U.S. 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. 3SBio has facilities in China and Italy and its products were sold in 20 countries in 2024, according to its latest annual report. Core products include a treatment for thrombocytopenia, TPIAO, and small molecule drug Mandi.
TimesLIVE
20-05-2025
- Business
- TimesLIVE
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.
Business Recorder
20-05-2025
- Business
- Business Recorder
Pfizer in deal with China's 3SBio to license cancer drug candidate, take equity stake
U.S. drugmaker Pfizer said it would license an experimental cancer treatment from China's 3SBio Inc, paying $1.25 billion upfront and up to another $4.8 billion if developmental milestones are met. Pfizer also plans to make a $100 million 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 $6 billion. The drug candidate, SSGJ-707, is being evaluated for non-small cell lung cancer, metastatic colorectal cancer and gynaecological tumors. It is undergoing multiple clinical trials in China and 3SBio plans to initiate the first Phase III trial in China this year. Business leaders sound a warning: Shortage of medical devices could lead to healthcare crisis The agreement covers the development, manufacturing and commercialisation of the drug. Pfizer has been granted a global license, excluding China, as well as the option to obtain commercialisation rights in China. 3SBio said separately that the drug has received clearance from the U.S. 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.
Bloomberg
20-05-2025
- Business
- Bloomberg
Pfizer Licenses 3SBio Cancer Drug for Record $1.2 Billion
Pfizer will pay $1.25 billion upfront to license an experimental cancer drug out of China, in a deal that underscores multinational drugmakers' growing enthusiasm for Chinese biotech innovation. The deal grants Pfizer rights to develop and commercialize a drug from Shenyang-based 3SBio Inc. currently in clinical testing for multiple tumor types, according to a press release. In addition to the upfront payment — which sets a new record for China licensing deals — 3SBio is eligible for up to $4.8 billion in downstream fees if the drug hits all milestones.
Time of India
20-05-2025
- Business
- Time of India
Pfizer signs licensing deal worth about $6 billion with China's 3SBio for cancer drug
U.S. drugmaker Pfizer said on Monday it has signed a licensing agreement worth about $6 billion with Chinese biopharmaceutical company 3SBio Inc for the development, manufacturing and commercialization of a drug which could be used to treat certain types of cancer and tumors. Pfizer stated that the drug candidate, which is being evaluated for non-small cell lung cancer , metastatic colorectal cancer and gynecological tumors, is currently undergoing multiple clinical trials in China. 3SBio plans to initiate the first Phase III trial in China this year. 3SBio said separately that the drug has received clearance from the U.S. Food and Drug Administration for its Investigational New Drug application. 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like You Won't Believe What Makes Pistachios So Expensive—The Truth Will Surprise You! Click Here Undo Under the agreement, 3SBio and its subsidiaries will grant Pfizer a global license, excluding China, for the drug SSGJ-707, with an option for Pfizer to obtain commercialization rights in China. Pfizer plans to manufacture the drug substance for SSGJ-707 in Sanford, North Carolina, and the drug product in McPherson, Kansas. Live Events The company said it also plans to make a $100 million equity investment in 3SBio after the transaction close, which is expected to happen in the third quarter.
