Gilead’s Kite Terminates China Cell Therapy Joint Venture with Fosun Pharma

Exit from Joint Venture:
Gilead's Kite Pharma has exited its cell therapy joint venture with Fosun Pharma in China, handing over the reins for its CAR-T therapy Yescarta to Fosun.

Reason for Exit:
The decision comes as CAR-T therapies face challenges in patient access and reimbursement in China.

Joint Venture Background:
The joint venture, Fosun Kite Biotechnology Co., Ltd., was established in 2017 to develop and commercialize Kite's cancer treatments in China.

Sale of Stake:
Kite Pharma sold its 50% stake in the joint venture to Fosun Pharmaceutical for $27 million in September 2024.

Yescarta Approval:
The joint venture had previously gained approval for Yescarta (axicabtagene ciloleucel) in China for the treatment of adult patients with relapsed or refractory large B-cell lymphoma.