Hong Kong-listed Sino Biopharma, AstraZeneca sign respiratory drug deal worth up to $1.9 billion
Hong Kong-listed Sino Biopharma, AstraZeneca sign respiratory drug deal worth up to $1.9 billion July 8 (Reuters) - Hong Kong-listed Sino Biopharmaceutical 1177.HK said on Wednesday it has granted AstraZeneca AZN.L the rights to develop a drug designed to treat chronic respiratory diseases outside China for total payments of up to $1.9 billion.
Under the deal, AstraZeneca gets an exclusive license to develop, manufacture and commercialize the drug — TQC3721 — outside China, with additional exclusive global rights for certain future development programs.
Designed to open airways and fight inflammation at the same time, TQC3721 aims to improve lung function and reduce severe flare-ups for patients with long-term respiratory conditions, Sino Biopharmaceutical said.
The Hong Kong-listed firm is eligible to receive an upfront payment of $200 million, with additional development and other milestone payments.
(Reporting by Sneha Kumar in Bengaluru; Editing by Jonathan Ananda)
((Sneha.Kumar@thomsonreuters.com;))
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