BMS gives notice of termination of Abraxane deal with BeiGene

14 October 2021

Sino-America immuno-oncology biotech firm BeiGene (Nasdaq: BGNE) revealed in a stock exchange filing yesterday that US pharma major Bristol Myers Squibb (NYSE: BMY) had, on October 6, delivered a notice to the company purporting to terminate the agreement with respect to Abraxane (nanoparticle albumin-bound paclitaxel) and providing 180-days’ notice that it was withdrawing Abraxane from the range of products for sale or distribution in the Territory pursuant to Section 2.6 of the Agreement.

The original agreement for the distribution in China for a number of products, including Abraxane, was signed in 2017 with US biotech Celgene, which was subsequently acquired by Bristol Myers.

The BMS Notice states:

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