AZ signals all-in on obesity via CSPC deal for $1.2B up front

For several years AstraZeneca had been dabbling in obesity but had yet to commit to competing with the market leaders. Friday’s deal with China’s CSPC for $1.2 billion up front — one of the U.K. pharma’s largest ever upfront payments — and a total value of $18.5 billion signals that AZ has joined Pfizer and Roche in making an all-in bet to compete with Eli Lilly and Novo.

The deal gives AstraZeneca plc (LSE:AZN; NYSE:AZN) ex-China rights to eight obesity and/or diabetes programs from CSPC Pharmaceutical Group Ltd. (HKEX:1093), including the company’s most advanced obesity asset, SYH2082. The once-monthly dual GLP1R/GIPR agonist is entering Phase I...