As Novartis PD-1 deal ends, BeiGene sees U.S., EU as gateways to global access

BeiGene is viewing Novartis’ decision to hand back regional rights to PD-1 inhibitor Tevimbra as an opportunity to turn relatively narrow approvals in the U.S. and EU into stepping stones to reaching new and emerging markets around the globe.

BeiGene Ltd. (NASDAQ:BGNE; HKEX:6160; Shanghai:688235) said early Tuesday that Novartis AG (SIX:NOVN; NYSE:NVS) is returning rights to Tevimbra tislelizumab, more than two-and-a-half years after the pharma paid $650 million up front to obtain them. The pharma held the drug’s rights in North America, Europe and Japan, while BeiGene, a cross-border biotech, markets Tevimbra in China...