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License is a product introduction method that has emerged in the pharmaceutical field in recent years.
Depending on the direction of introduction, licenses can be divided into two types: License-in and License-out.
Otherwise, the authorizing party charges a fee to grant the license to the introducing party
.
In recent years, as the country vigorously promotes the development of the pharmaceutical innovation industry, the number of license-in/out projects between pharmaceutical companies has increased significantly, and the transaction amount has also begun to continue to grow
Take License-in as an example.
Before 2019, domestic innovative drug project introduction transactions were concentrated below 100 million U.
S.
dollars, and the average advance payment in 2019 was 15.
1 million U.
S.
dollars
.
However, in the past three years, the amount of innovative drug transactions has begun to soar.
Among them, Zai Lab is a domestic company with frequent license-in actions.
It has reached more than ten transactions with foreign pharmaceutical companies such as Sanofi, GSK/Tesaro, Regeneron, and MacroGenics
.
So far this year, Zai Lab has launched at least 9 projects and reached an exclusive license agreement with the two companies within one day in November alone, with a total cooperation cost of US$797 million
On the whole, both in terms of quantity and total transaction amount, they far exceed last year's figures (from 108)
.
In addition, it is worth mentioning that there are not a few authorized transactions among local companies, and there are currently more than 36 authorized transactions
In 2021, domestic license-out transactions are also very hot, and license-out cases and amounts are also increasing
.
According to incomplete statistics, as of the end of November 2021, there have been 23 license-out transactions in the domestic pharmaceutical industry
On December 21, BeiGene announced that it had reached a cooperation agreement with Novartis, granting Novartis an exclusive, time-based option agreement
.
According to the agreement, Novartis will acquire the interests of BeiGene's oncology drug TIGIT antibody in the United States, Canada, Europe and Japan, and Novartis will pay an advance payment of US$300 million, an additional payment of US$600 million or US$700 million, and a US$1.
It can be clearly seen from the above that in recent years, China’s pharmaceutical innovation industry is in a period of rapid development, especially after the National Medical Products Administration has accelerated the drug R&D approval process, the License in mode and License-out mode of Chinese innovative drug companies All continue to heat up
.
Analysis believes that both License-in and License-out are the performance of Chinese pharmaceutical companies' accelerating globalization.
