China’s life sciences and healthcare (LS&H) industry underwent an unprecedented transformation in 2023 consisting of numerous challenges and opportunities. Within this year, BD transactions primarily included out-licensing of ex-China rights, China commercialisation partnering, asset acquisition and regaining drug product rights, which reflected the courage of China’s LS&H market players to proactively seek changes and rebuild corporate strategies in a quickly shifting market landscape.
Fangda Partners’ life sciences team remained active in advising on LS&H corporate transactions in 2023 and recent key deal highlights included (a) Hengrui Pharma (600276.SH)’s out-licensing partnership with Aiolos Bio to exploit the innovative anti-TSLP mAb (SHR-1905) outside of Greater China; (b) Kanghua Biological (300841.SZ)’s grant of exclusive rights to HilleVax for exploitation of recombinant hexavalent VLP norovirus vaccine outside of Greater China; (c) CStone Pharma (2616.HK)’s sale of the Tibsovo® (Ivosidenib) business, asset and goodwill thereof in Greater China and Singapore to Les Laboratoires Servier; and (d) a number of commercialisation arrangements entered into by multinational pharmaceutical companies with leading CSOs.
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