AstraZeneca grants 3SBio Chinese rights to Byetta and Bydureon
Anglo-Swedish pharma major AstraZeneca (LSE: AZN) has granted Chinese biotech firm 3SBio (HKEX:1530) an exclusive license to commercialize type 2 diabetes drugs Byetta (exenatide) and the once-weekly version, Bydureon, In China.
Under the terms of the deal, 3SBio has paid AstraZeneca $50 million up front and will make milestone payments of up to $50 million.
According to 3SBio, AstraZeneca recorded $14.6 million in 2015 revenues in China for the products. Byetta, a glucagon-like peptide-1 (GLP-1) receptor agonist, has been approved in China since 2009. 3SBio said that in May, AstraZeneca submitted a manufacturing application in China for Bydureon.
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