Official press releases from Novartis or Chengdu Baiyu Pharmaceutical

Sweden’s Novartis Secures Global Rights for Baiyu's Cancer Drug with $70M Upfront, $1.1B Milestone

Oct 18, 2024, 11:07 AM

Novartis has entered into a significant agreement with Chengdu Baiyu Pharmaceutical, paying $70 million upfront and potentially up to $1.1 billion in milestone payments for a small molecule cancer candidate. This deal grants Novartis exclusive global rights to Baiyu's innovative cancer drug. The collaboration aims to enhance Novartis' portfolio of cancer treatments, reflecting the growing acceptance and integration of Chinese research in the global pharmaceutical landscape. Additionally, Novartis received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) for Kisqali® to help reduce the risk of recurrence in people with HR+/HER2- early breast cancer.