According to the report, the new legislation could create various pitfalls for partnerships and research projects as well as increase the fees for the cost of entry into the Chinese pharma market. The new ordinances come after another extensive cyber-security law, which was set in place last year, stating that data must be hosted on servers on the Chinese mainland.
Novartis has sold its stake in its consumer health joint venture with GlaxoSmithKline to its British rival for $13bn in an early move by Vas Narasimhan, the Swiss pharmaceuticals group's new boss, to focus on its core business.
Shares of Belgium-based TiGenix NV shot up more than 72 percent in pre-market trading after Japan’s Takeda Pharmaceuticals opted to acquire the company with which it has a developmental partnership for $630 million.
Two months after expanding a licensing deal with Genentech, privately-held Arvinas LLC struck another lucrative deal with a major pharmaceutical company. Connecticut-based Arvinas inked a deal with Pfizer worth up to $830 million to develop small molecules that can degrade proteins.
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