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China’s Fosun Pharma unit strikes US$2.1 billion obesity drug deal with Pfizer
Yao Pharma’s deal with the US pharmaceutical giant underscores China’s growing role in global biotech licensing
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US pharmaceutical behemoth Pfizer has agreed to pay up to US$2.1 billion to Shanghai-based Fosun Pharma’s unit Yao Pharma for an experimental oral obesity drug, underscoring the growing trend of Chinese drug makers selling early-stage assets to global multinationals.
Under the licensing agreement, Yao Pharma would grant Pfizer an exclusive worldwide licence for the development, use, manufacturing and commercialisation of oral small-molecule drugs known as GLP-1 receptor agonists, including YP05002, as well as any products containing such compounds as an active ingredient, according to a statement by Fosun on Tuesday.
GLP-1 therapies have become a competition focus in the global pharmaceutical market, with injectable drugs like Novo Nordisk’s Wegovy and Ozempic, and Eli Lilly’s Zepbound and Mounjaro generating billions of dollars in annual revenue.
The licensed drug candidate YP05002 is undergoing Phase 1 clinical development in Australia for chronic weight management.
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