US EditionPfizer Secures $6 Billion Licensing Deal for Chinese Cancer Drug SSGJ-707
- Pfizer announced a $6 billion exclusive global licensing deal on May 20, 2025, with China’s 3SBio for cancer drug SSGJ-707 outside China.
- The agreement, driven by clinical testing of SSGJ-707 in China for lung and gynecological cancers, reflects demand for PD-1 and VEGF dual-targeting therapies.
- The deal includes a $1.25 billion upfront payment, a $100 million Pfizer equity stake, milestone payments up to $4.8 billion, and tiered royalties, with manufacturing in North Carolina and Kansas.
- 3SBio’s shares rose nearly 50% after the deal, and the agreement allows Pfizer to potentially commercialize SSGJ-707 in China, pending conditions and approvals.
- Pfizer expects to close the deal in the third quarter of 2025, which could position it competitively in the emerging immune-oncology drug class targeting PD-1 and VEGF.
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Pfizer signs licensing deal worth about US$6 billion with China's 3SBio for cancer drug
US drugmaker Pfizer said on Monday it has signed a licensing agreement worth about US$6 billion (HK$46.8 billion) with Chinese biopharmaceutical company 3SBio Inc (1530) for the development, manufacturing, and commercialization of a drug that could be used to treat certain types of cancer and tumors.
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