Pharma BD Deal Intelligence
Novartis obtained ex-China development and commercialization rights to tislelizumab, BeiGene's anti-PD-1 monoclonal antibody, for $650 million upfront plus up to $1.55 billion in regulatory and sales milestones. BeiGene retained rights in China and other countries. Novartis terminated the partnership in 2023 citing a 'changing PD-1 landscape' and returned all rights to BeiGene. BeiGene subsequently self-launched tislelizumab globally as Tevimbra, winning successive FDA approvals it now holds outright: second-line ESCC (March 2024), first-line HER2-negative gastric/GEJ adenocarcinoma (December 2024), and first-line PD-L1-positive ESCC (2025), alongside earlier EU approvals. In May 2025 the former counterparty renamed itself BeOne Medicines Ltd. and redomiciled to Switzerland. The termination thesis has held: the asset Novartis walked away from has continued a successful independent global launch.