Biogen Strikes $850M Deal for Felzartamab Rights and BLA Control in China
Biogen will pay up to $850 million for exclusive Greater China rights and global control of felzartamab, along with an NMPA-submitted BLA and Hangzhou-based manufacturing. If approved, felzartamab could capture 14.6% of China’s $458 million multiple myeloma market by 2029 as the first domestic anti-CD38 immunotherapy with a 1.5-hour infusion.
1. Deal Terms
On 20 April 2026, Biogen agreed to pay up to $850 million to acquire exclusive felzartamab rights in Greater China, securing global control of the drug and its NMPA-submitted biologics licence application. Manufacturing will occur at TJ Biopharma’s Hangzhou facility, making felzartamab the first domestically produced anti-CD38 immunotherapy in China. Biogen plans to lead commercialization efforts post-approval.
2. Market Context
In 2025, anti-CD38 antibodies treated 35.8% of relapsed/refractory multiple myeloma cases across eight major markets, representing a $7.6 billion sector dominated by Darzalex’s 87.5% share. Darzalex generated $7.1 billion in sales, highlighting the lucrative opportunity for new entrants.
3. Competitive Dynamics
Felzartamab’s 1.5-hour infusion contrasts with Darzalex’s seven-hour intravenous administration, though Darzalex Faspro’s subcutaneous formulation under trial in China offers a 3-5 minute delivery and potential home use. Biogen must differentiate felzartamab’s domestic sourcing and clinical profile to gain prescriber trust.
4. Forecast and Government Support
Chinese policy incentives—volume procurement, subsidies and fast-track reviews—favor local manufacturers and could boost felzartamab uptake. Forecasts project a 14.6% share of China’s $458 million multiple myeloma market by 2029 if clinical data publication and approval milestones are met.