✉news BusinessStartups first seen 18 h ago, last 42 min ago, peak #2
Novartis signs $7.8 billion deal with Chinese startup
Original: Novartis signs $7.8 billion drug deal with Chinese startup
Swiss pharmaceutical giant Novartis has signed a deal worth $7.8 billion with a Chinese biotech startup, according to Axios. The agreement is one of the largest yet involving a Chinese drug developer and highlights growing Western interest in China's biotech pipeline. Details of the startup and the specific drug were not disclosed in the initial report.
Why now: The sheer size of the deal underscores Novartis's strategy of sourcing innovative drugs from China's fast-growing biotech sector.
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