Merck KGaA Enters Partnership With China's Hengrui for Up to $1.5 Billion
October 30 2023 - 4:59AM
Dow Jones News
By Adria Calatayud
Germany's Merck KGaA has entered into a partnership to license a
cancer drug developed by China's Jiangsu Hengrui Pharmaceuticals
for up to 1.4 billion euros ($1.48 billion).
Merck said Monday that the collaboration with Hengrui gives it
an exclusive license outside of China to develop, manufacture and
commercialize Hengrui's drug candidate HRS-1167 as well as an
option to license, also outside of China, Hengrui's antibody-drug
conjugate SHR-A1904. Merck also has the option to co-promote both
assets in China, it said.
Hengrui will get EUR160 million upfront and will receive
payments for the achievement of certain development, regulatory and
commercial goals as well as tiered royalties on net sales by Merck,
with total potential payments capped at EUR1.4 billion, the German
life-sciences and electronics group said.
Merck said the collaboration strengthens its oncology pipeline,
as HRS-1167 has shown encouraging signs of clinical activity and
patient benefit in early-stage trials as a monotherapy. The drug
has higher potential to combine with chemotherapy and novel agents,
Merck said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 30, 2023 04:44 ET (08:44 GMT)
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