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AstraZeneca, Merck, Novo deals boost Chinese biotech as global interest grows

South China Morning Post29 September 2026, 09:00 UTCPeople's Republic of China

Shares of Akeso surged after British drug maker AstraZeneca moved to advance the Chinese biotech firm’s flagship cancer drug, while a new deal from US giant Merck further underscored the sector’s global momentum amid easing fears of US curbs. AstraZeneca on Tuesday announced a US$2 billion equity investment in Florida-headquartered Summit Therapeutics, which holds the exclusive rights to develop and commercialise Akeso’s immunotherapy drug ivonescimab outside China. Summit and AstraZeneca would...

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Xi Jinping and Eugene Holiday in BeijingLeader meetingsPeople's Republic of China1 October 2026, 03:25 UTC
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