BeiGene Signs Blockbuster $1.4 Billion Deal with Celgene for PD-1 Asset
publication date: Jul 6, 2017
BeiGene of Beijing has entered a "transformational" collaboration with Celgene. The agreement, which involves BeiGene's clinical-stage PD-1 immuno-oncology drug, has a total value of almost $1.4 billion, setting a record as the largest out-licensing of a China discovered novel drug candidate. Celgene will own global rights to BeiGene's BGB-A317 immuno-oncology drug, except for Asia, though it will own Japan rights. In return, Celgene will pay $263 million upfront and make a $150 million equity investment in BeiGene. The agreement provides for up to $980 million in development, regulatory and sales milestones. And BeiGene will acquire China rights (including manufacturing) to Celgene's three China-approved cancer drugs, plus a fourth candidate. In addition, BeiGene will take over Celgene's existing China sales organization, which BeiGene will use to market its own portfolio of cancer drugs, once they are approved. More details....
Stock Symbols: (NSDQ: BGNE) (NSDQ: CELG)
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