AstraZeneca strikes $4.7bn China deal to boost weight-loss drugs pipeline

Financial Times: AstraZeneca has agreed a licensing deal worth up to $4.7bn with Chinese group CSPC Pharmaceuticals to develop weight-loss and diabetes drugs, as it seeks to expand in the fast-growing market.

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The deal is a boost for AstraZeneca’s obesity pipeline where it has three treatments in different stages of development. The pharma group is confident it can compete in a market currently dominated by Novo Nordisk and Eli Lilly that analysts have forecast could be worth $100bn by 2030…