China's CSPC Pharmaceutical inks deal with AstraZeneca for weight loss therapy

Reuters

01/30

Jan 30 (Reuters) - CSPC Pharmaceutical Group 1093.HK said on Friday it had entered an agreement with UK drugmaker AstraZeneca AZN.L for the development of innovative long-acting peptide medicines for obesity and weight-related conditions.

AstraZeneca will obtain access to some of the programmes and platforms of the Chinese biotechnology firm's pharmaceutical in exchange for an upfront payment of $1.2 billion, it added.

(Reporting by Sherin Sunny in Bengaluru; Editing by Rashmi Aich)

((Sherin.Sunny@thomsonreuters.com;))

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