On December 3, 2019 Luye Pharma of Yantai reported that it has acquired Shandong Boan Biological, a company developing biosimilar products, at a price unofficially reported to be $205 million (Press release, Luye Pharma, DEC 3, 2019, View Source [SID1234551907]). Luye said the acquisition includes Boan’s drug portfolio, antibody screening platform, antibody manufacturing platform and related IP. Boan currently has 8 biosimilar drugs in development, three of them in clinical trials. Previously, Luye in-licensed four biosimilars from Boan, including biosimilars to Avastin, Prolia,Xgeva and Eylea. Luye said the molecules at at the IND stage in the US and/or Europe and/or Japan.

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