China's CSPC Pharmaceutical inks deal with AstraZeneca for weight loss therapy

CSPC Pharmaceutical (1093) said on Friday it had entered an agreement with UK drugmaker AstraZeneca for the development of innovative long-acting peptide medicines for obesity and weight-related conditions.

AstraZeneca will obtain access to some of the programmes and platforms of the Chinese biotechnology firm’s pharmaceutical in exchange for an upfront payment of US$1.2 billion (HK$9.4 billion), it added.

Reuters