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This is another case of an overseas pharmaceutical company "purchasing additional" innovative Chinese drugs.

On the evening of August 9, multinational pharmaceutical company Merck announced that it would acquire CN201, a new clinical-stage bispecific antibody developed by Tongrun Biopharmaceuticals for the treatment of B-cell-related diseases, through its subsidiary. Merck said the transaction is expected to be completed in the third quarter of 2024 and will be recorded as an asset acquisition.

The reporter noticed that since AstraZeneca acquired Gracell Biopharma at the end of last year, multinational pharmaceutical companies have repeatedly extended "olive branches" to Chinese innovative pharmaceutical companies through acquisitions and other forms of cooperation in the first half of this year.

"Overall, China's innovative drug R&D efficiency is ahead of the world. At the same time, due to the exchange rate difference, foreign-funded enterprises find it more cost-effective to 'buy' Chinese innovative drugs than to conduct their own R&D," a person in charge of primary market investment told reporters. (Securities Daily)