Pharma BD Deal Intelligence
Pfizer, Innovent Biologics Forge $10.5 Billion Oncology Collaboration to Advance Next-Generation Cancer Therapies. The value of licensing agreements involving…
China's Innovent Biologics signs drug deal with Pfizer worth up to $10.5bn. The Chinese biotech and U.S. pharmaceutical giant signed a licensing agreement for…
Deepening Ties: Why China is Becoming Big Pharma's Most Essential R&D Partner. Total deal value for China biotech out-licensing climbed to $135.7 billion in…
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On May 28, 2026, Pfizer and China's Innovent Biologics entered a global strategic oncology collaboration worth up to $10.5 billion to develop a portfolio of 12 early-stage cancer programs spanning antibody-drug conjugates (ADCs) and multispecific antibodies — eight Innovent-originated programs and four Pfizer-proposed discovery programs. Innovent receives $650 million upfront and is eligible for up to $9.85 billion in development, regulatory and commercial milestones plus up to double-digit royalties. Innovent leads development through Phase 1, after which Pfizer assumes global development; four programs will be co-developed and co-commercialized with shared U.S./Europe profits. It is one of the largest China-originated oncology partnerships to date.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Pfizer Inc. / Innovent Biologics, Inc. (this deal) | 2026 | $10.5B | 71 |
| Pfizer Inc. / BioNTech SE | 2020 | $748M | 100 |
| Pfizer Inc. / FoldRx Pharmaceuticals | 2010 | — | 99 |
| Pfizer Inc. / Medivation Inc. | 2016 | $14.0B | 86 |
| Pfizer Inc. / Wyeth | 2009 | $68.0B | 86 |
| Pfizer Inc. / Warner-Lambert Company | 2000 | $90.0B | 83 |
| Pfizer Inc. / Arvinas, Inc. | 2021 | $2.4B | 77 |
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More: 2026 deals · Pfizer Inc. deals · Oncology deals