✉news BusinessStartups first seen 9 h ago, last 12 min ago, peak #2
Novartis signs $7.8 billion drug deal with Chinese startup
Swiss pharmaceutical giant Novartis has signed a deal worth up to $7.8 billion with a Chinese biotech startup. The agreement, reported by Axios, underscores growing Western interest in China's drug development pipeline, as major drugmakers increasingly license experimental medicines from Chinese startups rather than developing them in-house.
Why now: Novartis's multibillion-dollar bet on a Chinese biotech highlights the rising prominence of Chinese startups in global pharmaceutical innovation.
Evidence
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