BeiGene (NASDAQ: BGNE; HKG: 6160; SHA: 688235), a leading biopharmaceutical company based in China, has announced the cancellation of its partnership with NewBridge Pharmaceuticals. The partnership was focused on the sales, distribution, and commercialization of Brukinsa (zanubrutinib) in the Middle East and North Africa (MENA) region. The mutual decision to conclude the partnership comes as BeiGene plans to expand its presence in the region and directly manage operations.
BeiGene initially entered into a deal with NewBridge in 2020 to support the commercialization of Brukinsa in the MENA region. This collaboration has resulted in the approval of Brukinsa in several MENA markets, with the potential for further approvals across related regions still on the horizon.
According to the press release, the phased disengagement from NewBridge will commence on a country-by-country basis starting from June 2024, with the distribution agreement set to terminate by March 31, 2025. BeiGene will assume customer-facing activities from June 11, 2024, encompassing medical affairs, commercial operations, and market access. This move is seen as a significant milestone for BeiGene as it continues to establish itself as a truly multinational player in the biopharmaceutical industry.- Fineline.com
