Pfizer in deal with China's 3SBio to license cancer drug candidate, take equity stake

U.S. drugmaker Pfizer, said it would license an experimental cancer treatment from China's 3SBio Inc, paying $1.25 billion upfront and up to another $4.8 billion if developmental milestones are met.

Pfizer also plans to make a $100 million equity investment in 3SBio after the transaction closes, which is expected to happen in the third quarter.