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RPT-UPDATE 1-Novartis, once wary of Chinese M&A, dives into BeiGene's cancer immunotherapy


Novartis’s China foray follows Pfizer deal in September
Swiss drugmaker playing catch-up on cancer immunotherapy
Novartis CEO was previously tepid on Chinese assets
Jan 12 (Reuters) - Swiss drugmaker Novartis paid $650 million to snag an immuno-oncology drug from BeiGene Ltd , the latest Western drugmaker turning to China for must-have assets to fill holes in their cancer portfolios.
Novartis Chief Executive Vas Narasimhan’s move, which could bring $1.55 billion in milestone payments and royalties for BeiGene, is also an about-face from comments two years ago when he raised data quality and innovation worries as barriers to Big Pharma’s Chinese M&A dreams. ....

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