Novartis gains rights to BeiGene’s PD-1 in North America, Europe and Japan for $650M up front

After regaining worldwide rights to tislelizumab from Celgene Corp. in mid-2019, BeiGene has found a partner in major-market territories for the PD-1 inhibitor in Novartis, which paid $650 million up front on Monday for rights in North America, Europe and Japan. 

Under Monday’s deal, Novartis AG (NYSE:NVS; SIX:NOVN) and BeiGene Ltd. (NASDAQ:BGNE; HKEX:6160) will jointly develop tislelizumab in the U.S., Canada, EU, U.K., Mexico, Norway, Switzerland, Iceland, Liechtenstein, Russia and Japan. Novartis will be responsible for regulatory submissions and commercialization. BeiGene, which retains rights in China and elsewhere, is eligible for $1.6 billion in milestones, plus royalties. ...