FibroGen, Inc. (FGEN) Thursday announced the sale of its China subsidiary to AstraZeneca for approximately $160 million.
Roxadustat leads in brand value share for anemia treatment in chronic kidney disease and awaits regulatory approval for chemotherapy-induced anemia.
AstraZeneca will acquire all rights to roxadustat in China, while FibroGen retains rights in the U.S. and select markets.
The deal extends FibroGen's cash runway into 2027 and allows it to focus on developing FG-3246, a CD46-targeting antibody drug conjugate, and FG-3180, a PET imaging agent for prostate cancer.
The transaction is expected to close by mid-2025.
FGEN is currently trading at $0.69 up 24 percent or $0.13 on the Nasdaq.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.