The company is acquiring rights to royalties from Qarziba, a neuroblastoma drug approved in ex-US markets that Recordati develops and markets in all of them except mainland China.

The acquisition of Renaissance and its promising Phase III-ready asset for neuroblastoma could be the first of a number of deals in the near future, Essential CEO Emma Johnson tells Scrip.

The 2022 pricing negotiations for innovative drugs organized by China’s National Healthcare Security Administration have slashed prices of included products by 60% on average, a level mostly unchanged from the 2021 round, although 36% more novel medicines were covered.

The Italian company will acquire EUSA for €750m, helping to broaden its rare disease franchise into the oncology arena.