Rongchang Bio responds to Pfizer's $200 million impairment of Vidisutuximab: Pfizer's conclusion is based on market competition environment.
Rongchang Biotech responded: The decrease in expected value due to the non-promotion of the indication of Vedolizumab (RC48) led to a devaluation of 200 million US dollars by the partner Pfizer. The overseas rights of this drug were authorized to ADCleading company Seagen in August 2021 and later acquired by Pfizer. Currently, Pfizer is promoting the indication of Vedolizumab for urothelial carcinoma overseas.
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