Printer Friendly

Lee's Pharmaceutical Enters into Agreement with Nippon Shinyaku, a Move To Accelerate Market Diversification in China.

Hong Kong, Mar 3, 2009 - (ACN Newswire) - Hong Kong Lee's Pharmaceutical Holdings Limited ("Lee's Pharmaceutical" or the "Group", Stock Code: 8221), an integrated research-driven and market-oriented pharmaceutical group in China, announced today a signing of a license agreement with Nippon Shinyaku Co., Ltd. ("Nippon Shinyaku"), a listed pharmaceutical company in Japan, for the pharmaceutical product containing Nippon Shinyaku's antibacterial agent "Prulifloxacin".

Under the license agreement, Lee's Pharmaceutical is granted an exclusivemarketing right of products containing Prulifloxacin in China. The Group pays Nippon Shinyaku an upfront payment, milestone payments based on the sales achievement, and royalty payment based on the sales amount.

Prulifloxacin, which was discovered by Nippon Shinyaku as an oral quinolone antibacterial agent, has been launched in Japan and Europe. In addition, Nippon Shinyaku has already concluded license agreements with other pharmaceutical companies in Korea and U.S., which will develop Prulifloxacin in their territories.

Dr. Benjamin Li, CEO of Lee's Pharmaceutical said, "We are privileged to work with Nippon Shinyaku, a premium Japanese pharmaceutical company known for its innovation and scientific committment. This partnership will provide new opportunity for the Group and further strengthen the Group's pipeline.

Capitalizing our strength in marketing capability and distribution network in China, we are confident that Prulifloxacin will become one of the successful drugs in China. Going forward, we will continue to partner with other well-known pharmaceutical companies around the world to license new products and technologies, extending the Group's product range and optimizing its product portfolio."

About Lee's Pharmaceutical Holdings Limited

Leefs Pharmaceutical Holdings Limited, a biopharmaceutical company operating in China for over 14 years, was successfully listed on the Growth Enterprise Market (GEM) of the Stock Exchange of Hong Kong Limited in 2002. It is a fully integrated biopharmaceutical company with a solid infrastructure in both drug and clinical development. In addition, it carries out regulatory matters as well as manufacturing, sales and marketing activities throughout China. Leefs currently markets six products in China. Their drugs focus on various clinical areas, including cardiovascular and infectious diseases, dermatology, oncology, gynecology and others with more than 15 products currently at different development stages. This is the result of both internal R&D activities as well as from their recent acquisition of licensing and distribution rights from various US and European corporations.

Source: Lee's Pharmaceutical Holdings Limited

Porda International (Finance) PR Company Limited
Ms. Keely Chan
Tel: (852) 3150 6760 / (852) 9770 2950

Ms. Alman Loong
Tel: (852) 3150 6731 / (852) 9107 8225

Ms. Liz Yip
Tel: (852) 3150-6739 / (852) 9497 1685
Fax: (852) 3150-6728

Copyright 2009 ACN Newswire. All rights reserved.
COPYRIGHT 2009 Japan Corporate News Network K.K.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:JCN Newswires
Date:Mar 4, 2009
Previous Article:Fujitsu to Acquire Kaz Group Pty Ltd from Telstra Corporation Limited.
Next Article:Luoxin Pharma Announces 2008 Annual Results Profit Attributable to Shareholders Increased 50.2% to Approximately RMB 183,155,000.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters