Chinese Drugmaker BeiGene And Novartis Move Out From Second Cancer Drug Pact
Portfolio Pulse from Vandana Singh
BeiGene Ltd has announced it will regain rights to develop, manufacture, and commercialize its cancer drug, Tevimbra, from Novartis AG. The European Commission has approved Tevimbra as a monotherapy for adults with certain types of cancer, and the FDA has accepted the biologics license application for the drug, with a target action date in the second half of 2024. BeiGene's shares are up 0.14% premarket.
September 19, 2023 | 1:18 pm
News sentiment analysis
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NEGATIVE IMPACT
Novartis has lost the rights to develop and commercialize the cancer drug, Tevimbra, which have been regained by BeiGene.
The loss of the rights to Tevimbra could be seen as a negative development for Novartis. However, the impact may be mitigated by the fact that no royalty payments are due to Novartis.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
BeiGene regains rights to develop and commercialize its cancer drug, Tevimbra, from Novartis. The drug has been approved by the European Commission and the FDA has accepted the biologics license application.
BeiGene regaining the rights to Tevimbra is a positive development for the company. The approval by the European Commission and the acceptance of the biologics license application by the FDA further strengthens the company's position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100