Merck to buy rights to Chinese cancer drug

Merck signs up to $3.3 billion cancer drug deal with China-based LaNova
(Reuters) -Merck has licensed an early-stage cancer drug from a China-based biotech in an up to $3.3 billion deal, two months after a similar therapy from Summit Therapeutics outperformed its blockbuster Keytruda in a late-stage trial in the country.
Merck to buy rights to Chinese cancer drug for up to $3.3B
Merck (NYSE:MRK) and LaNova Medicines announced Thursday an agreement under which the U.S. pharmaceutical giant is expected to obtain licensing rights to a cancer candidate known as LM-299 from the Chinese biotech in a deal worth up to $3.
Merck Snags Chinese Cancer Drug For Up to $3.3 Billion
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Merck strikes $3.3B licensing deal for Chinese cancer drug
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In a move to safeguard its dominant position in cancer treatments, Merck agreed to license a drug from a Chinese company
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Merck & Co. has struck a licensing deal with LaNova Medicines that is potentially worth more than $3 billion to the clinical-stage biotechnology company. Merck on Thursday said it has secured an exclusive global license to develop,
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