Huadong Medicine Buys Acute Ischemic Stroke Drug's Rights for 1.19 Billion Yuan

MT Newswires Live07-15

Huadong Medicine (SHE:000963), through unit Hangzhou Sino-US Huadong Pharmaceutical, bought the market rights for TTYP01 tablets from Suzhou Aozhong Biotechnology for 1.19 billion yuan, according to a Monday filing on the Shenzhen Stock Exchange.

The fee includes development, regulatory and sales milestone payments. The company will pay a down payment of 100 million yuan.

The Chinese pharmaceutical company will manufacture and sell the drug in China, Hong Kong, Macau and Taiwan.

The drug for acute ischemic stroke already completed the phase III clinical studies and is expected to be submitted for marketing in the fourth quarter of the year.

Price (RMB): Â¥27.67, Change: Â¥-0.05, Percent Change: -0.18%

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