AbbVie and RemeGen
Type: License agreement
In-Licensee: AbbVie
Out-Licensor: RemeGen
Focus: RC148
Total Payment: $650 million
Milestone payments: $4.95 billion
Royalties: Double-digit royalties on net sales
Financial impact: The licensing partnership between AbbVie and RemeGen has a potential value of up to $5.6 billion, including a $650 million upfront payment, up to $4.95 billion in milestone payments, and tiered double-digit royalties on future global sales.
AbbVie, a U.S.-based global biopharmaceutical company focused on immunology and oncology, has entered an exclusive licensing agreement with RemeGen, a China-based biotech specializing in antibody-drug conjugates and biologics, to develop and commercialize RC148, a PD-1/VEGF-targeted bispecific antibody for advanced solid tumors; under the deal, AbbVie receives rights outside Greater China while RemeGen gains $650 million upfront, up to $4.95 billion in milestone payments, and tiered double-digit royalties on net sales.
RC 148
RC148 is a PD-1/VEGF-targeting bispecific antibody developed by RemeGen for the treatment of solid tumors, including breast cancer and non-small cell lung cancer, with clinical development currently underway in China. The therapy strengthens the oncology portfolio of AbbVie and represents a new class of immuno-oncology treatments designed to enhance anti-tumor immune response by simultaneously blocking PD-1 and VEGF. Early clinical studies have shown encouraging antitumor activity, particularly in combination with antibody-drug conjugates (ADCs), creating potential opportunities to pair RC148 with AbbVie’s investigational ADC, telisotuzumab adizutecan (Temab-A), for cancers such as NSCLC and colorectal cancer.
Eleven years' market revenue of AbbVie
AbbVie has recorded steady revenue growth over the past eleven years, reaching its highest revenue of $61.16 billion in 2025. This growth was primarily driven by the company’s immunology and neuroscience portfolios, supported by several blockbuster drugs.Key revenue drivers in 2025 included: Skyrizi – AbbVie’s largest revenue contributor, generating over $12.5 billion in the first nine months of 2025, fueled by strong demand for psoriasis, Crohn’s disease, and ulcerative colitis treatments. Rinvoq – Another major growth driver, with about $5.9 billion in sales in the first nine months of 2025, supported by expanded indications across autoimmune diseases. Humira – Although sales declined due to biosimilar competition after patent expiry, it still generated over $3.2 billion in the first nine months of 2025. Neuroscience portfolio – Key products such as Vraylar, Botox, Ubrelvy, and Qulipta delivered strong double-digit growth and generated billions in revenue, making neuroscience AbbVie’s second major revenue segment.
Eleven years of market revenue of AbbVie (2015-2025)
Fig 11: Market revenue of AbbVie
Market Impact of This Partnership
The partnership between AbbVie and RemeGen to develop the PD-1/VEGF bispecific antibody RC148 is expected to strengthen AbbVie’s oncology pipeline and expand its presence in next-generation cancer therapies. By entering the emerging PD-1/VEGF bispecific antibody space, the collaboration positions AbbVie in a highly competitive segment of immuno-oncology while creating opportunities to combine RC148 with its antibody-drug conjugate (ADC) portfolio for cancers such as non-small cell lung cancer and colorectal cancer. The deal, which includes a $650 million upfront payment and up to $4.95 billion in milestone payments, also highlights the strong commercial potential of the therapy, boosting investor confidence and reflecting the growing trend of global pharmaceutical companies partnering with innovative Chinese biotech firms to access promising drug candidates.