May 19 (Reuters) - U.S. drugmaker Pfizer ( PFE ) said on Monday it has signed a

licensing agreement worth about $6 billion with Chinese biopharmaceutical company 3SBio Inc ( TRSBF )

for the development, manufacturing and commercialization of a drug which could be used

to treat certain types of cancer and tumors.

Pfizer ( PFE ) stated that the drug candidate, which is being evaluated for non-small cell lung

cancer, metastatic colorectal cancer and gynecological tumors, is currently undergoing multiple

clinical trials in China. 3SBio plans to initiate the first Phase III trial in China this year.

3SBio said separately that the drug has received clearance from the U.S. Food and Drug

Administration for its Investigational New Drug application.

Under the agreement, 3SBio and its subsidiaries will grant Pfizer ( PFE ) a global license,

excluding China, for the drug SSGJ-707, with an option for Pfizer ( PFE ) to obtain commercialization

rights in China.

Pfizer ( PFE ) plans to manufacture the drug substance for SSGJ-707 in Sanford, North Carolina, and

the drug product in McPherson, Kansas.

The company said it also plans to make a $100 million equity investment in 3SBio after the

transaction close, which is expected to happen in the third quarter.