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CSPC Pharmaceutical Receives $1.2 Billion Upfront Payment From AstraZeneca

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CSPC Pharmaceutical (HKG:1093) received $1.2 billion as part of a collaboration and license agreement with AstraZeneca to develop innovative long-acting peptide medicines.

The amount represents the upfront payment agreed by both parties when the experimental drugs for obesity and weight-related conditions-focused deal was announced earlier this year, according to a Hong Kong bourse filing on May 29.

CSPC is eligible for up to $3.5 billion in development milestones and up to $13.8 billion in sales milestones, and double-digit royalties on net sales.

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