Haisco Pharmaceutical Group Co.,Ltd.

AbbVie Secures $745M Licensing Deal with Haisco for Pain Pipeline Assets

- AbbVie has entered into a licensing agreement worth up to $745 million with Chinese biopharmaceutical company Haisco to acquire rights to multiple pain-related compounds outside of China, Hong Kong and Macau. - The deal includes $30 million upfront and up to $715 million in milestone payments for compounds in preclinical or early clinical development stages, including HSK-55718, a NaV1.8-targeting injectable for abdominal post-operative pain. - This acquisition is part of AbbVie's broader pipeline restocking strategy as the company faces significant revenue losses from Humira's patent expiration, with sales projected to drop over 90% from peak 2022 levels of $21.2 billion by 2032. - The agreement reflects a growing industry trend of pharmaceutical companies turning to China for innovative drug assets, with large pharma licensing 28% of its innovator drugs from China in 2024.