Date
21 August 2018

Fosun sells drug compound rights for 388 mln euros, filing says

Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (02196.HK, 600196.CN) plans to sell the global rights to its two compounds to SELLAS Clinicals Holding AG for 388 million euros (US$530.72 million), the Chinese company said in a regulatory filing late Sunday. The global rights allow SELLAS to develop, commercialize, sell and distribute the two compounds in areas outside China. The two compounds have promising prospects in developing medicines for tumors and Type 2 diabetes, the company said. Fosun Pharma, through its subsidiary, will retain a 10 percent royalty on net revenue sales for eight years in relevant regions and will be entitled to a 3 percent equity interest in the SELLAS subsidiary that will ultimately hold the rights for the two compounds, the filing said.

– Contact HKEJ at [email protected]

MY/AC/CG

 

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