ADCs, radiopharmaceuticals, precision medicines and T-cell engagers dominated R&D pipelines reviewed by 12 big pharmas at the first annual AACR Oncology Industry Partnering Event.

The $16.5bn deal, intended to increase Novo Nordisk’s production of semaglutide-containing products, led a $36bn-plus quarter for M&A transactions, according to Evaluate.

The buyout reflects the Danish biotech’s plans to expand in oncology drug development and commercialization.

After reporting losses for the past two years, the Chinese pharma announced the first full year of profitability on the back of continued sales of its commercialized assets.