Pfizer inks $10B pact with Innovent to fast-track 12 cancer drugs
Pfizer and Innovent announced a broad collaboration worth up to $10 billion to develop 12 cancer medicines, starting with a $650 million upfront and up to $9.85 billion in milestones. Pfizer will gain exclusive global licenses for four programs, ex-China rights to four, and co-develop four with Innovent, while Innovent handles eight programs through phase 1. The partners will co-commercialize jointly owned assets in the U.S. and Europe, illustrating how Western pharma is leveraging China’s rapid early development to boost productivity and global reach.
