Sanofi launched a strategic alliance for the development and commercialization of biological therapeutics in China and with potential international expansion in collaboration with JHL Biotech. This agreement allows Sanofi to invest USD 80 million in newly issued JHL shares at TWD 90 per share. Under the terms of the agreement, Sanofi will make an upfront payment of USD 21 million to acquire exclusive rights for the proposed biosimilar of Rituximab and options to certain JHL pipeline products.

As part of the agreement, JHL will lead the development, registration, and manufacturing activities while Sanofi will lead commercialisation efforts in China. JHL is entitled to receive milestones of up to USD 236 million and sales royalties. The two companies reportedly bring together their respective complementary capabilities and represents a commitment to expanding patient access to affordable high quality modern therapies through local development of biologics in China.