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Pfizer is wagering billions of dollars on a new kind of cancer immunotherapy, agreeing Monday to license a type of dual-targeting medicine that’s emerged as a must-have for drugmakers in oncology.

辉瑞公司正在投入数十亿美元押注一种新型癌症免疫疗法，该公司周一同意授权一种双靶向药物，这种药物已成为制药商在肿瘤学领域的必备之选。

The pharmaceutical giant

制药巨头

will pay biotechnology company 3SBio $1.25 billion upfront

将向生物技术公司三生制药支付12.5亿美元的预付款

for rights outside of China to a therapy dubbed SSGJ-707. 3SBio, which is based in Shenyang, China, could receive up to $4.8 billion more in additional payouts if the drug hits certain goals and sales royalties should it eventually reach market. Pfizer will make a $100 million equity investment in 3SBio upon the deal’s closing as well..

对于一款名为SSGJ-707的疗法，中国以外的权利。如果该药物达到某些目标，并且在最终上市后获得销售版税，总部位于中国沈阳的三生制药可能会额外获得高达48亿美元的付款。辉瑞还将在交易结束时向三生制药进行1亿美元的股权投资。

The deal makes Pfizer the latest large drugmaker to

该交易使辉瑞成为最新一家

bet on drugs that simultaneously block the proteins PD-1 and VEGF

押注同时阻断PD-1和VEGF蛋白的药物

, signaling through which helps tumors slip past the immune system and grow. The wave of investment comes after one such drug, ivonescimab,

，通过它发出信号有助于肿瘤逃避免疫系统并生长。在这类药物中的一个——伊沃西单抗（Ivonescimab）出现后，投资浪潮随之而来，

bested Merck & Co’s dominant immunotherapy Keytruda

击败了默克公司主导的免疫疗法Keytruda

in a Phase 3 trial in lung cancer in China last year. More than a dozen companies are now developing them. Many are based in China or

去年在中国进行的肺癌三期试验中。目前有十多家公司正在开发它们。许多公司总部位于中国或

acquired their prospects

获得了他们的前景

from Chinese drugmakers,

来自中国制药商，

reflecting the

反映

biotech sector’s growth there

那里的生物技术部门增长

.

。

“It’s become obvious that every [multinational corporation] wants a PD-1/VEGF on hand,” wrote Jefferies analyst Cui Cui in a Tuesday note to clients.

“很明显，每家跨国公司都想要一款PD-1/VEGF，”杰富瑞分析师崔崔在周二给客户的一份报告中写道。

These PD-1/VEGF inhibitors are drawing interest because they might build upon Keytruda and other drugs like it, which can treat an array of cancers and earn billions of dollars in annual sales.

这些PD-1/VEGF抑制剂引起了人们的兴趣，因为它们可能会基于Keytruda和其他类似药物进行开发，而这些药物能够治疗多种癌症并实现数十亿美元的年销售额。

Questions remain, however. Study results from ivonescimab’s main trial in China suggested a

然而，问题依然存在。ivonescimab在中国主要试验的研究结果表明

modest survival benefit compared to Keytruda

与Keytruda相比，适度的生存益处

, but the difference wasn’t substantive enough to prove ivonescimab is better. It’s unclear whether PD-1/VEGF inhibitors will improve on standard therapies in other tumor types, or in international trials with more diverse pools of participants.

，但这种差异并不足以证明依沃西单抗更有效。目前尚不清楚PD-1/VEGF抑制剂是否会在其他肿瘤类型中或在拥有更多样化参与者群体的国际试验中改进标准疗法。

Pfizer is

辉瑞是

looking to oncology

看向肿瘤学

to help turn around a prolonged stock slide and sinking COVID vaccine revenue, and PD-1/VEGF drugs have become part of that effort. In February, it

帮助扭转持续的股票下跌和新冠疫苗收入下滑的局面，PD-1/VEGF药物已经成为这项努力的一部分。今年2月，它

partnered with ivonescimab developers Akeso and Summit Therapeutics

与依沃西单抗（ivonescimab）的开发公司康方生物（Akeso）和Summit Therapeutics合作

to study their drug alongside cancer medicines in Pfizer’s pipeline. Now Pfizer’s grabbed rights to an ivonescimab competitor that is currently undergoing clinical trials in China in lung cancer, metastatic colorectal cancer and certain gynecological tumors.

与其在辉瑞公司产品线中的癌症药物一起研究他们的药物。现在，辉瑞公司已经获得了目前在中国进行肺癌、转移性结直肠癌和某些妇科肿瘤临床试验的依沃西单抗竞争产品的权利。

Pfizer will have to prove 3SBio’s drug can stand out. Ivonescimab was cleared in China last month and is in several other late-stage studies. BioNTech has a PD-1/VEGF prospect also acquired from China that’s currently in Phase 3 testing.

辉瑞必须证明三生制药的药物能够脱颖而出。伊沃西单抗上个月在中国获批，并且正在进行多项其他后期研究。BioNTech 也有一种从中国收购的 PD-1/VEGF 前景药物，目前正处于三期测试阶段。

By comparison, 3SBio’s drug should start its first Phase 3 trial in China later this year. Earlier study data were “similar” to what was observed in testing of PD-1/VEGF drugs Merck & Co. and BioNTech acquired, wrote Jefferies analyst Cui.

相比之下，三生制药的药物预计在今年晚些时候在中国开始其首个三期试验。Jefferies分析师崔写道，早期研究数据与默克公司和BioNTech收购的PD-1/VEGF药物测试中观察到的结果“相似”。

Phase 2 results

第二阶段结果

will be presented at the American Society of Clinical Oncology meeting at the end of the month.

将于本月底在美国临床肿瘤学会会议上发表。

The drug “dovetails well” with Pfizer’s stockpile of antibody-drug conjugates “and adds another important pipeline candidate to [its] oncology portfolio,” wrote Leerink Partners analyst David Risinger, in a separate note. “However, we will need to assess its competitive differentiation given crowding in the category.”.

该药物“与辉瑞公司现有的抗体药物偶联物库存‘非常契合’，并为其肿瘤学产品组合增添了另一个重要的候选药物”，Leerink Partners分析师大卫·莱辛格在另一份报告中写道。“然而，鉴于该类别的竞争日益激烈，我们需要评估其竞争优势。”

Pfizer said it will manufacture the drug substance for SSGJ-707 in Sanford, North Carolina, and the drug product in McPherson, Kansas. The company and its peers have been pledging more investment in U.S. drug production as the Trump administration weighs

辉瑞表示，将在北卡罗来纳州的桑福德生产SSGJ-707的药物成分，并在堪萨斯州的麦克弗森生产药物成品。随着特朗普政府权衡，该公司及其同行已承诺加大对美国药品生产的投资。

levying tariffs on pharmaceuticals

对药品征收关税

imported from abroad.

从国外进口。