As China-developed assets gain more attention from biopharma dealmakers, some industry watchers want to curb the trend before the U.S. loses key biotechnology capabilities. During these discussions, it was only fitting that Pfizer struck an eye-popping development deal with Innovent on 12 cancer meds. And Astellas, facing a key patent cliff, is telling investors how it plans to adapt. Plus more.
1. As calls for COINS Act expansion grow, will new rules sweep up China biotech licensing?
China’s growing share of the drug development scene has been a scorching hot topic in the life sciences lately, and some in the U.S. are looking to put a curb on the trend. Certain industry watchers are calling on the U.S. Treasury Department to include biotechnology in the ongoing implementation of the COINS Act. As it stands, the act aims to prohibit—or require notification of—American investments in sensitive foreign sectors. The discussion has evolved into a lively debate about how to approach China’s rise in the industry.
2. Pfizer pens $10B, 12-drug deal with Innovent in broad bet on Chinese cancer med innovation
Pfizer is tapping the China biotech development well again, this time paying Innovent $650 million upfront and offering $9.85 billion in development, regulatory and commercial milestones to get a license for a dozen cancer prospects. The licensed portfolio features “antibody-drug conjugates with novel differentiated payloads and multi-specific antibodies with differentiated immune-engaging features and unique designs,” the companies said in a May 28 post-market release. The deal follows a similar agreement between Bristol Myers Squibb and Hengrui Pharma two weeks ago. As for Pfizer, the company struck licensing agreements with China biopharmas 3SBio and YaoPharma last year.
As Astellas maps its near- to mid-term future, the company is preparing for a sharp decline in revenues from its Pfizer-partnered prostate cancer blockbuster Xtandi, which is soon slated to face patent expirations. Over the next few years, the company plans to amp up its licensing efforts—and continue to be disciplined with spending—to contend with the Xtandi situation. While Astellas could end up striking a large acquisition, this type of deal would not be “pursued by default,” according to a multi-year strategic plan released this week.
Amid a period of heavy geopolitical posturing related to biopharma’s investments and capabilities, a group of industry leaders this week met with Japan Prime Minister Sanae Takaichi to stress actions needed to strengthen the industry’s local footprint. Despite the nation’s storied pharmaceutical history, Japan is “experiencing a structurally declining share of global pharmaceutical R&D investment,” according to a press release from an international industry group. Among the important policy priorities are greater investments in innovative medicines, the group said.
Akeso and Summit Therapeutics’ ivonescimab has garnered all sorts of attention on the way to its potential FDA nod, but a plenary session at oncology’s biggest event again places a bright spotlight on the drug. At this weekend’s ASCO annual meeting, investigators will share the med’s overall survival results from the phase 3 Harmoni-6 trial. Ivonescimab is the first China-developed asset to land in the plenary spot at ASCO.
As Korea’s SK Bioscience looks to grow its global reach, the company has struck a deal with the government of Colombia to allow the local government-affiliated pharma company VECOL to produce its varicella vaccine. The project could eventually grow to include other products and is expected to result in investments of up to $260 million over a decade.