Pfizer and 3SBio have completed a licensing agreement that grants the US pharmaceutical giant worldwide rights to sell the Hong Kong-listed firm’s cancer drug, marking the largest deal ever for a single drug in China’s biotech industry. First announced in May, the deal will see 3SBio – based in Shenyang, capital of northeastern Liaoning province – receive a US$1.25 billion upfront payment from Pfizer for the exclusive right to sell its cancer drug, SSGJ-707, outside China. Under the terms of...