Biogen Secures $850M China Rights to Felzartamab, Eyes 14.6% MM Share
Biogen will acquire exclusive Greater China rights to anti-CD38 immunotherapy felzartamab for up to $850 million and assume control of the BLA for relapsed/refractory multiple myeloma, retaining local manufacturing in Hangzhou. Felzartamab’s 1.5-hour infusion could challenge Darzalex’s seven-hour administration and capture 14.6% of China’s $458 million MM market by 2029.
1. Deal Structure and Rights
On April 20, Biogen struck an agreement with TJ Biopharma to acquire exclusive rights to felzartamab in Greater China for up to $850 million, gaining control of the existing BLA submission for relapsed/refractory multiple myeloma and securing global rights while keeping manufacturing at TJ's Hangzhou GMP facility.
2. Clinical and Competitive Profile
Felzartamab delivers in a 1.5-hour infusion compared to Darzalex’s seven-hour treatment, demonstrating comparable efficacy and safety in combination with dexamethasone and lenalidomide; however, Janssen’s subcutaneous Darzalex Faspro, if approved, could administer doses in 3–5 minutes and enable home use.
3. Market Potential in China
In 2025 anti-CD38 therapies accounted for a $7.6 billion market across major regions, with Darzalex holding 87.5% share; in China alone the multiple myeloma market is projected at $458 million by 2029, where felzartamab could capture 14.6% based on patient forecast models.
4. Next Steps and Risks
Biogen’s success hinges on regulatory approval of Phase III data, building prescriber trust in a domestic product, and navigating competition from Darzalex Faspro; government incentives for local production may bolster uptake but risks remain around adoption pace and pricing negotiations.