(Reuters) -China’s Jiangsu Hengrui Pharmaceuticals said on Wednesday it has agreed to grant a paid license for its innovative cancer drug trastuzumab rezetecan to the Swiss unit of India’s Glenmark Pharmaceuticals.
Under the agreement, Hengrui will receive an upfront payment of $18 million and can get milestone payments of up to $1.09 billion from Switzerland’s Glenmark Specialty S.A.
(Reporting by Shivangi Lahiri in Bengaluru; Editing by Leroy Leo)
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