Latest news with #CSPCPharmaceuticals
NDTV
13-06-2025
- Business
- NDTV
AstraZeneca Inks China AI Research Deal For Chronic Diseases
British drugmaker AstraZeneca unveiled on Friday an AI-assisted research partnership with Chinese counterpart CSPC Pharmaceuticals worth up to $5.3 billion to tackle chronic diseases. AstraZeneca, which has a pre-existing collaboration with CSPC, announced earlier this year plans to invest $2.5 billion in China. "This strategic research collaboration underscores our commitment to innovation to tackle chronic diseases which impact over two billion people globally," said AstraZeneca executive vice president Sharon Barr. AstraZeneca aims to develop a research and development centre of up to 1,700 people in the country. CSPC will carry out the research in Shijiazhuang, using "their AI-driven, dual-engine efficient drug discovery platform", the firm said. AstraZeneca said the agreement will see CSPC receive an upfront payment of $110 million, plus up to $1.62 billion in "potential development milestone payments" and up to a further $3.6 billion in sales milestone payments, along with annual sales-based royalties. The multinational will also be able to exercise options for exclusive licences to develop and commercialise worldwide candidates identified under the deal.
Daily Mail
13-06-2025
- Business
- Daily Mail
AstraZeneca in deal with China firm worth up to £4bn
AstraZeneca has agreed a deal that could be worth almost £4billion with a Chinese company to use AI in the production of new treatments for chronic diseases. Britain's largest listed company announced the tie-up with biotech firm CSPC Pharmaceuticals following controversy over its involvement in China. The pharmaceuticals giant will pay CSPC an upfront fee of £81m while a total further payment of up to £3.8billion is available if the drugs reach development and sales-related milestones. AstraZeneca has been ploughing cash into the country, including announcing a £1.8billion research and development hub in the capital Beijing. The firm's former boss in China, Leon Wang, was arrested in October and is still thought to be in detention. More recently, former Tory leader Sir Iain Duncan Smith has accused the pharma giant of 'turning a blind eye to the nature of the Chinese government'. AstraZeneca boss Sir Pascal Soriot said in February: 'We all think about Leon and miss him, but the reality is we are not able to talk to him. We are not allowed.'
