China, with its unrivalled depth of capital resources and ranking as the second largest pharmaceutical market in the world, is a frequently visited topic in the deal space. As the regulatory and market access environment continue to evolve and harmonize with Western markets, the level of interest for cross-border transactions has greatly increased. On 31st October 2019, we saw Amgen (NASDAQ:AMGN) pumping USD 2.7 billion dollars into BeiGene (NASDAQ:BGNE) for a 20.5% stake. Under the agreement, BeiGene will commercialise Xgeva, Kyprolis and Blincyto in China as well as collaborating on 20 of Amgen’s pipeline drugs. Apart from the headline generating terms, it was most interesting that Amgen’s CFO said that he foresees Asia contributing to 25% of new drug revenues in 5-10 years, highlighting the fast growth and the potential lucrative returns from commercialising in this region.

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