Amgen pharma deals with Zhejiang Beta Pharma to form a joint venture that will commercialize Amgen's Vectibix in the Chinese market.
Amgen (the big pharma and big biotech company) and Zhejiang Beta Pharma aim to quickly and efficiently deliver Vectibix to patients in China with their pharma deals.
The joint venture will benefit from Zhejiang Beta Pharma's strong expertise in the development and commercialization of molecularly targeted therapies as well as Zhejiang Beta Pharma's industry-leading oncology sales network in China.
Zhejiang Beta Pharma's China capabilities are complementary to Amgen's global expertise in the development and manufacturing of human therapeutics.
According to the pharma deals agreement, the new joint venture will be named Amgen-Beta Pharmaceuticals.
Zhejiang Beta Pharma will own 51 percent and Amgen will own the remaining 49 percent interest in the joint venture as part of the pharma deals.
Vectibix is a prescription medicine used for the treatment of metastatic colorectal cancer.
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