Biogen to invest up to $850m in China rights to felzartamab immunotherapy
Biogen will pay up to $850m for exclusive Greater China rights to anti-CD38 immunotherapy felzartamab for relapsed/refractory multiple myeloma, gaining its submitted BLA and leveraging domestic manufacturing in Hangzhou. The company plans to offset a declining multiple sclerosis franchise with growth from new launches Skyclarys and Zurzuvae.
1. Felzartamab Deal in Greater China
On April 20, Biogen secured exclusive Greater China rights to anti-CD38 immunotherapy felzartamab for up to $850m, including control of its submitted biologics licence application for relapsed/refractory multiple myeloma. Manufacturing will remain at TJ Biopharma’s Hangzhou GMP facility, positioning felzartamab as China’s first domestic anti-CD38 therapy with a projected 14.6% share of the local MM market by 2029.
2. Q1 Earnings and MS Franchise
As Biogen prepares its Q1 report, legacy multiple sclerosis therapies are under rising competitive pressure, driving focus on newer products. The company expects Skyclarys and Zurzuvae to be key growth engines that help counteract declines in its established MS portfolio.