Celgene to Take Stake in Chinese Biotech Peer BeiGene
(Beijing) — U.S. biopharmaceutical company Celgene Corp. plans to acquire an equity stake in Chinese peer BeiGene Ltd. to help commercialize BeiGene’s solid-tumor cancer treatment in markets outside Asia.
Celgene plans to hold a 5.9% share in BeiGene for nearly $150 million and pay upfront licensing fees totaling $263 million. The Chinese biotechnology developer will be eligible to receive up to $980 million in development, regulatory and sales milestone payments, the companies said in a joint statement on Wednesday.
- 1Caixin View: China Feels Chill From Trouble in Turkey
- 285-Year-Old Petitioner, in Poor Health, Denied Parole
- 3In Depth: HNA Charts New Course Back to Airline Basics
- 4On Beijing’s Orders, Tsinghua May Give Up Control of Chipmaker Units
- 5Banned From Planes and Trains, Jia Yueting Hands Over U.S. Car Startup’s China Business
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas