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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