Dive Brief:

简报：

Royalty Pharma has grabbed rights to a share in revenue from lung cancer drug Imdelltra,

罗氏制药公司已获得肺癌药物Imdelltra的收入分成权利，

announcing Monday

周一宣布

it will pay $885 million upfront for BeOne Medicine’s royalties paid by partner Amgen for sales outside China. BeOne, formerly known as BeiGene, has rights to Imdelltra revenue because of a

它将为贝一医药（BeOne Medicine）支付8.85亿美元的预付款，这些款项是合作伙伴安进公司（Amgen）为在华外销售支付的特许权使用费。贝一医药前身为百济神州（BeiGene），由于一份协议，拥有Imdelltra的收入权益。

$2.7 billion collaboration deal

27亿美元的合作协议

it struck with Amgen in 2019.

它在2019年与安进公司达成协议。

Per deal terms, BeOne has the option to sell another chunk of Imdelltra royalties in the next year for $65 million, bringing the deal total to around $950 million. Royalty said the initial royalty stream amounted to “approximately 7%” of worldwide net sales.

根据协议条款，BeOne有权在明年以6500万美元的价格出售另一部分Imdelltra的专利使用费，使交易总额达到约9.5亿美元。Royalty表示，最初的专利使用费流相当于全球净销售额的“大约7%”。

Launched in 2024 for small cell lung cancer, Imdelltra earned

Imdelltra于2024年推出，用于小细胞肺癌，

sales of $215 million

2.15亿美元的销售额

through the first six months of 2025, most of it in the U.S. under an

通过2025年的前六个月，大部分在美国境内进行。

accelerated approval from the Food and Drug Administration

获得美国食品和药物管理局的加速批准

. Amgen recently reported data from a clinical trial showing

安进公司最近报告了来自一项临床试验的数据，显示

the drug extends survival

药物延长生存期

compared with chemotherapy, which should secure its place on the market.

与化疗相比，这应该能确保其在市场上的一席之地。

Dive Insight

深度洞察

BeOne is now well established as a commercial drugmaker, recording total sales of $2.4 billion through the first six months of the year from drugs it developed as well as some of Amgen’s products in China. However, it also has significant expenses, burning about $2 billion over the same time — about half on research and development of its own drugs like Brukinsa and sonrotoclax..

百济神州目前已是颇具规模的商业制药公司，在今年前六个月通过在中国销售其自研药物以及安进部分产品，实现总收入 24 亿美元。但该公司支出同样巨大，同期消耗约 20 亿美元，其中大约一半用于其自研药物（如 Brukinsa 和 sonrotoclax）的研发。

That profit picture for the first half looks like it will be sustained for the full year, as BeOne’s executives forecast positive operating income and cash flow even before this deal was announced. The deal will only build on that momentum, executives said Monday.

贝壹公司的高管预测，即使在宣布此交易之前，全年也将实现正营运收入和现金流，因此上半年的盈利前景看起来将得以持续。高管们在周一表示，该交易只会在此势头之上进一步发展。

“A strong balance sheet is a hallmark of the most successful companies in our industry, and this transaction provides increased operational and strategic flexibility as we continue to execute our business strategy for the long term,” said CFO Aaron Rosenberg, in a statement.

“强劲的资产负债表是我们行业中最为成功的公司的标志，这项交易为我们继续执行长期商业战略提供了更多运营和战略灵活性，”首席财务官亚伦·罗森伯格在一份声明中表示。

A so-called bispecific antibody, Imdelltra triggers an immune response to cells expressing a protein called DLL-3, common among tumor cells in small cell cancer, a hard-to-treat disease that until recently has had few innovative treatments. While Merck & Co.’s immunotherapy Keytruda and Bristol Myers Squibb’s Opdivo have gained approval for small cell lung cancer, they were withdrawn when .

一种所谓的双特异性抗体，Imdelltra 会触发免疫反应，针对表达 DLL-3 蛋白的细胞，这种蛋白在小细胞癌的肿瘤细胞中很常见，而小细胞癌是一种难治疾病，直到最近都很少有创新疗法。尽管默克公司的免疫疗法 Keytruda 和百时美施贵宝的 Opdivo 已获批准用于小细胞肺癌，但它们在某些情况下被撤回了。

confirmatory data didn’t support their use

确认性数据并不支持它们的使用

. Roche’s Tecentriq can be used in certain patients, however.

然而，罗氏的Tecentriq可以在某些患者中使用。

“Imdelltra is reshaping the treatment paradigm for patients with small cell lung cancer, a highly aggressive disease with few treatment options,” said Pablo Legorreta, Royalty’s CEO, in a statement. “Today’s transaction is consistent with our strategy of acquiring royalties on highly transformative products in life sciences.”.

“Imdelltra 正在重塑小细胞肺癌患者的治疗模式，这是一种侵袭性极强且治疗选择很少的疾病，”Royalty 首席执行官 Pablo Legorreta 在一份声明中表示。“今天的交易符合我们收购生命科学领域高度变革性产品的特许权使用费的战略。”

Royalty Pharma has been active in buying revenue streams recently, striking deals with

罗伊alty制药近期一直在积极购买收益流，达成交易

Biogen

百健公司

,

，

Cytokinetics

细胞动力学

,

，

Sanofi

赛诺菲

and

和

Agios

圣徒

.

。