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BeiGene and Bristol-Myers in Fight over China Abraxane Distribution Deal

publication date: Oct 14, 2021

The $1.4 billion landmark deal between Beijing's BeiGene and Celgene (now Bristol-Myers) is falling apart. The companies are arguing over BeiGene's China distribution rights for Abraxane, a nanoparticle albumin–bound form of paclitaxel, used to treat several forms of cancer. BeiGene acquired China distribution rights to the drug, two other Celgene drugs, and Celgene's complete China commercial team as part of the deal that also gave Celgene ex-China rights to BeiGene's PD-1 candidate. Unfortunately, a China inspection of Abraxane's US manufacturing plant found irregularities and suspended China sales. That was 18 months ago and Abraxane remains unavailable in China. More details....

Stock Symbols: (NSDQ: BGNE; HK: 06160)) (NYSE: BMY)

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