In May Pfizer, America’s biggest drugmaker, agreed to pay $1.25bn in fees to 3SBio, a Chinese biotech firm, for the rights to manufacture and sell an experimental cancer drug outside China, if approved.
GlaxoSmithKline, a British rival, struck a $500m deal with Hengrui, another Chinese company, for a lung-disease treatment and the options to buy 11 more drugs, that together may be valued at as much as $12bn
Such deals are no longer exceptions. In the first half of this year nearly a third of all global licensing agreements signed by big pharma were with Chinese firms—four times the share in 2021
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Oh boy, Pharma with added Melamine.