Sanofi's Biosimilars Deal With JHL Confirms Growing Trend In China
Sanofi is joining the biosimilars trend to tap into China through a local partnership with Taiwan's JHL Biotech, initially focusing on rituximab, a biosimilar product that has great market potential but strong competition in development by domestic peers.
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While some multinationals appear concerned about China's slowing economy and their business prospects in this market, others are forging ahead with major new investments, including Pfizer, which has just unveiled plans for a large biosimilars production and R&D site.
Eli Lilly and Company has expanded its cancer drug collaboration with Chinese biotech Innovent Biologics Inc with plans to develop and market up to three anti-PD-1 based bi-specific antibodies over the next decade, both inside China's expanding healthcare market and abroad.
Smart companies are raising money to advance drug development programs while investors are pouring cash into the biotechnology industry. The latest to raise private capital: Oncobiologics, Ra Pharmaceuticals, RaNA Therapeutics and SutroVax.