China-Originated Assets Licensed to MNCs
China-originated assets licensed out to multinationals — deal terms and development strategy.
One year after the ex-China license GSK paid US$1 billion to buy the licensee outright
One year after Hengrui licensed felcorekibart (SHR-1905) ex-China, GSK paid US$1 billion to buy the licensee outright — while Hengrui's China line runs ahead with two Phase 3s and an atopic dermatitis program not in the global plan.
Sep 26, 2026 · 20 min read→China-Originated Assets Licensed to MNCs / PF-08634404The China game behind US$1.25 billion: PF-08634404 (SSGJ-707) China oncology strategy panorama
Pfizer paid a US$1.25 billion upfront for 3SBio's PD-1×VEGF bispecific SSGJ-707, but in China the standalone Phase 3 reads out first — against an ivonescimab that is already marketed, on the NRDL, and 12 months ahead.
Sep 26, 2026 · 23 min read→China-Originated Assets Licensed to MNCs / Sonesitatug vedotinA China-originated CLDN18.2 ADC licensed to AstraZeneca: gastric cancer Phase 3 "wins OS across the board, stumbles on PFS" — how should the China battle be fought?
Sonesitatug vedotin became the world's first CLDN18.2 ADC with positive Phase 3 OS, yet in China it trails domestic peers that stayed home — AstraZeneca's answer may lie in earlier lines, not the crowded third line.
Sep 26, 2026 · 21 min read→