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BeiGene Books $150 Million as Celgene Returns Rights to BeiGene's PD-1

publication date: Jun 17, 2019

Beijing's BeiGene will receive a $150 million termination payment from Celgene because Celgene will end its $1.4 billion partnership for ex-China rights to BeiGene's PD-1 candidate. The original deal included a provision that BeiGene's tislelizumab would be Celgene's only PD-1 project. Once Celgene agreed to be acquired by Bristol-Myers Squibb, tislelizumab was in jeopardy, given BMS's very successful anti-PD-1 antibody, Opdivo. In 2017, Celgene paid $263 million upfront for ex-China rights to tislelizumab. More details....

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

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