Pfizer Inc. has entered into a strategic agreement with China-based biopharmaceutical company 3SBio Inc., licensing a promising cancer drug candidate and reinforcing its oncology portfolio amid increasing global demand for innovative treatments.
Under the terms of the deal, Pfizer will pay $1.25 billion upfront for global rights (excluding China) to SSGJ-707, a novel investigational therapy being developed for non-small cell lung cancer, metastatic colorectal cancer, and gynecological tumors. If development and regulatory milestones are met, the total transaction value could rise to $6.05 billion.
Additionally, Pfizer will acquire a $100 million equity stake in 3SBio, further deepening its collaboration with the Chinese biotech firm. The transaction is expected to close in the third quarter of 2025.
The announcement triggered a surge in investor confidence, with 3SBio shares jumping 35% on the Hong Kong Stock Exchange, bringing the company’s market valuation to nearly $6 billion.
This deal marks a significant step in Pfizer’s global R&D and commercialization strategy, especially as it seeks to fortify its oncology pipeline and diversify drug sourcing amid ongoing geopolitical and regulatory tensions between the U.S. and China.
Despite the backdrop of trade frictions and looming pharmaceutical tariff risks, the partnership reflects sustained interest by multinational drugmakers in tapping China’s growing biotech ecosystem and its robust pipeline of clinical-stage assets.
SSGJ-707 is currently undergoing multiple Phase II trials in China, with plans for a Phase III trial launch later this year. The U.S. Food and Drug Administration (FDA) has cleared the Investigational New Drug (IND) application for the treatment, paving the way for future global trials.
The deal grants Pfizer worldwide development, manufacturing, and commercialization rights, excluding China. However, it also includes an option for future commercialization rights within China, allowing the U.S. pharmaceutical giant to strategically expand its footprint in one of the world’s fastest-growing healthcare markets.
Pfizer aims to manufacture the active pharmaceutical ingredient (API) for SSGJ-707 at its Sanford, North Carolinafacility, with final drug product formulation and packaging to occur in McPherson, Kansas—ensuring secure and scalable production capabilities in the U.S.
Meanwhile, 3SBio maintains global operations with manufacturing sites in China and Italy. According to its 2024 annual report, the company’s product portfolio—including thrombocytopenia treatment TPIAO and small molecule therapy Mandi—was distributed in 20 countries last year.
This partnership further signals a growing convergence between Western pharmaceutical giants and Asian biotech innovators, as regulatory harmonization and investment in research capabilities accelerate global access to cutting-edge therapies.
