AstraZeneca escalates Big Pharma’s China land grab
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AstraZeneca has entered a licensing agreement with China's CSPC Pharmaceutical for weight-loss drugs, valued at up to $18.5 billion. The UK-based company will pay $1.2 billion upfront and potentially $17.3 billion more based on milestones. Additionally, AstraZeneca plans to invest $15 billion in China over the next five years for manufacturing and R&D. Following the announcement, CSPC's shares dropped 10.2%, while AstraZeneca's stock rose 1%.
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