Top 5 Chinese players: What does Everest's landmark deal with Immunomedics say about the flurry of in-licensing to China?
Immunomedics might have had trouble getting its breast cancer drug through the FDA, but that hasn’t stopped them from commanding a lofty price from a Chinese player intent on bringing it to Asia. On the same day the troubled biotech said goodbye to its CMO, Immunomedics $IMMU unveiled a licensing pact that highlights the importance of China for biopharma companies of any size — and really in any circumstance.
Encompassing $60 million upfront, $65 million conditional upon US approval of sacituzumab govitecan and $710 million in milestones, the deal immediately vaults the buyer — Everest Medicines — into the top 5 in-licensing companies in China in the past 11 years.
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