Novartis on Friday signed a drug licensing deal with China's Abogen Biosciences that could be worth up to $7.8 billion.
Why it matters: This is the latest example of a Western pharma giant partnering with a Chinese biotech — a trend that could presage China rivaling America as the world's top drugmaker.
President Trump's signature threat to force drugmakers into offering Medicare the lowest prices in the world has ended in a whimper, with a regulation that's expected to impact just a handful of manufacturers.
Yes, but: The legal ramifications of the pricing experiment could be far-reaching.
Private equity firm Sycamore Partners reportedly is in talks to sell British pharmacy chain Boots to part of the billionaire Weston family for around $9 billion (including debt).
Why it matters: Sycamore isn't wasting any time breaking up the Walgreens Boots Alliance, believing that it's worth less than the sum of its parts.
China is making it clear that it wants to become a powerhouse on par with large Western pharmaceutical companies in the near future, and not just strike licensing deals for promising new drug candidates.
Why it matters: Some experts warn that big drug companies are prioritizing the short-term benefits of partnering with Chinese biotechs over the longer-term risk of China usurping the U.S. as the world's biopharmaceutical superpower.
