Takeda Pharmaceutical Co., (TYO: 4502, NYSE: TAK), a leading Japanese pharmaceutical company, is actively seeking potential partnerships with Chinese biotech firms, according to CEO Christophe Weber in a recent Bloomberg interview. Weber highlighted that despite finalizing two recent agreements with Chinese companies, Takeda is still “very open” to further collaborations, recognizing “China is becoming a source, a country where there is innovation,” a significant shift from the situation a decade ago. Currently, China represents Takeda’s fastest-growing market.
In June 2024, Takeda entered into an agreement with Suzhou-based Ascentage Pharma (HKG: 6855) to acquire rights outside Greater China and Russia for the BCR-ABL tyrosine kinase inhibitor (TKI) olverembatinib, followed by a USD 75 million equity investment in Ascentage. This deal came on the heels of a USD 1.13 billion licensing agreement with Shanghai-based HutchMed in March 2023, which granted Takeda global rights to fruquintinib, excluding Greater China. Weber anticipates olverembatinib to reach the approval stage within three years, as reported by Bloomberg.
During the interview, Weber was also questioned about the recent initiatives by the US Congress to restrict the global influence of Chinese biotechs and contract manufacturing organizations (CMOs). He responded that Takeda does not foresee direct impacts from such geopolitical challenges, as it has “no dependency on any Chinese company,” and all manufacturing activities based in China are dedicated to serving the Chinese market exclusively.- Flcube.com
