AbbVie Inc. significantly expanded its oncology pipeline by securing ex-China rights to Zejing Biopharmaceutical's late-stage lung cancer drug, ZG006 (alveltamig), in a deal potentially valued at over $1.1 billion.

  • The agreement includes an upfront payment of $100 million for the rights to the trispecific T-cell engager.
  • ZG006 is designed to challenge existing treatments in the lucrative small cell lung cancer market.
  • Shares of ABBV reacted positively to the strategic move, trading up +2.38% at $229.27.