Pfiz­er in­fus­es $200M in­to CStone, scor­ing a sec­ond PD-L1 and out­lin­ing a sprawl­ing Chi­na pact

Pfiz­er has en­gi­neered a wide-rang­ing Chi­na pact with CStone, with an ini­tial $200 mil­lion in­vest­ment and a li­cense to the late-stage PD-L1 drug to get things start­ed.

The US gi­ant now claims 9.90% of CStone’s shares on the Hong Kong stock ex­change, rights to com­mer­cial­ize sug­e­mal­imab in main­land Chi­na, as well as plans to co-de­vel­op can­cer drugs — ei­ther in its own pipeline or in-li­censed from oth­er drug­mak­ers — in the Chi­nese mar­ket. It’s al­so on the hook for $280 mil­lion in mile­stones for the PD-L1 pro­gram alone, in ad­di­tion to roy­al­ties.

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