AbbVie agreed to an exclusive outside‑China licensing deal for RemeGen’s PD‑1/VEGF bispecific RC148, structuring $650 million upfront and up to $4.95 billion in milestones plus tiered royalties. RemeGen retains Greater China rights while AbbVie secures global development and commercialization responsibilities. Separately, AbbVie reached a most‑favored‑nation (MFN) pricing agreement with the White House that included large domestic manufacturing and investment commitments. Company statements indicate the MFN deal aims to lower list prices and expand US production capacity. Taken together, the transactions show AbbVie using frontier biologics licensing and government pricing pacts to bolster oncology reach while aligning with US industrial policy. The RC148 deal accelerates AbbVie’s immuno‑oncology offering; the MFN pact reshapes the company’s commercial and manufacturing commitments in the U.S.