Lilly will work with sinopharma to develop anticancer drugs

Source: on March 20, 2015, Lilly company and China Cinda biopharmaceutical (Suzhou) Co., Ltd reached a cooperation agreement to jointly develop at least three kinds of anti-cancer drugs, which will be one of the most extensive cooperation between large western pharmaceutical companies and Chinese biotechnology enterprises so far Working with Chinese companies will also help Lilly speed up the launch of new drugs in China The deal shows that despite recent resistance to growth in China, the pharmaceutical industry remains interested in the Chinese market Lilly said it would advance US $56 million to Chinese start-up innovent biology Inc to jointly develop at least three experimental anticancer drugs, one of which is in the charge of Lilly's research and development laboratory and the other two are in the charge of Xinda bio pharmaceutical Lilly may also pay more than $400 million if one of the drugs that Cinda biopharmaceuticals is responsible for R & D meets specific R & D and business goals This agreement enables Lilly to have a Chinese partner, which helps Lilly speed up the introduction of new biotech drugs in the Chinese market The agreement also expanded Lilly's footprint in two hot pharmaceutical areas, one is drugs that activate the immune system to fight cancer cells, and the other is bio generic drugs If regulatory approval is obtained, the two companies will work together to market drugs in China Lilly will be responsible for the marketing of overseas markets Sinda biopharmaceutical was founded in 2011, mainly focusing on the research and development of monoclonal antibody drugs The company is developing 10 new monoclonal antibody drugs and has obtained venture capital from investors such as Lilly's venture capital fund and fidelity, a large mutual fund