Pfizer Inc. $PFE has solidified its commitment to global oncology leadership by paying a landmark upfront fee of USD 1.25 billion for the license to manufacture an experimental cancer therapy developed by Shenyang-based 3SBio Inc. $1530.HK. This unprecedented payment sets a new benchmark among pharmaceutical licensing agreements in China, highlighting the accelerating trend of multinational companies seeking access to cutting-edge biopharmaceutical innovation emerging from the Chinese market.

U.S. pharmaceutical giant Pfizer Inc. $PFE has announced a major licensing and investment agreement with China-based 3SBio Inc. $1530.HK to accelerate the development of a promising cancer therapy. The deal marks a significant step in cross-border cooperation between Western and Chinese biotech sectors.