Novartis Licenses Chinese Abogen Drug in Up to $7.8B Deal

Novartis has licensed a drug candidate from Chinese biotech Abogen Biosciences in a deal worth up to $7.8 billion, including options on future therapies. This marks another major Western-Chinese pharma partnership, highlighting the growing value of Chinese biotech innovation. The deal's financial terms and specific drug target remain undisclosed, but the scale suggests significant strategic importance for both companies.