Economy · World
GSK Acquires Global Rights to Cancer Drug from Chimagen Biosciences
Pharmaceutical giant GSK has agreed to acquire full global rights to a cancer-targeting drug developed by Chinese firm Chimagen Biosciences. The deal is valued at up to $750 million. GSK announced the agreement on Tuesday, highlighting Chimagen's "potential best-in-class" drug. This transaction underscores China's growing role in the biotechnology sector.
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- Centre (2): Reuters, South China Morning Post