China biopharmas forging western links to promote growth
Chinese biopharma companies are eyeing strategic collaborations with western counterparts to leverage their extensive networks and commercial capabilities to promote indigenously developed drugs in China.
Data and analytics company GlobalData noted that China-based Luye Pharma Group’s holding subsidiary Boan Biotech signed an agreement with the Chinese unit of UK-based AstraZeneca (LSE: AZN) in May 2021 regarding the promotion rights to the anticancer drug Boyounuo (a biosimilar of Roche’s [ROG: SIX] Avastin [bevacizumab] injection), under which Boan will grant exclusive promotion rights to AstraZeneca across 21 provinces, municipalities, and autonomous regions of China.
Earlier this year, Shanghai-based Junshi Biosciences entered into exclusive agreement with AstraZeneca China for the promotion rights of toripalimab in mainland China for urothelial carcinoma.
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