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Most Popular in Pharmaceuticals
Novartis will inject $40 million into Cellular Biomedicine Group (CBMG), a Chinese firm that will produce Novartis’s Kymriah CAR T-cell treatment for people with cancer in China. Although Kymriah has yet to be approved in China, Novartis expects the government will give the go-ahead because China is home to the world’s largest group of people with the types of cancers that Kymriah treats. As part of the deal between the two companies, CBMG will receive an increasing percentage of the drug’s sales in China as the market grows.
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