China Innovation Drug BD Potential Deal Value Nears $100 Billion in First Half, Pharma Majors Press On

Potential deal value of out-licensing (BD) transactions for China's innovative drugs approached $100 billion in the first half as multinational pharma continued pursuing deals. Since September, Gilead Sciences reached a definitive agreement with PepStar Therapeutics to acquire its oral IL-23R inhibitor program, whose lead candidate is HCXT-2001, for a $1.275 billion cash upfront payment. In late September, Ciprapirin (SPR2015 developer) and Merck signed a global exclusive license for preclinical oral KRAS G12D (ON) inhibitor SPR2015, with $400 million upfront and total potential value up to $2.13 billion; the deal has taken effect.