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.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.