The conclusion of a license agreement for an antibacterial agent ‘Prulifloxacin’ in China
On March 2, 2009, Nippon Shinyaku Co., Ltd. (Headquarters: Kyoto, Japan; President: Shigenobu Maekawa) and Lee’s Pharmaceutical Holdings Ltd. (Headquarters: Hong Kong, China; CEO: Li Xiao Yi) concluded a license agreement for the pharmaceutical product containing Nippon Shinyaku’s antibacterial agent ‘Prulifloxacin’.
Under the license agreement, Nippon Shinyaku grants Lee’s Pharmaceutical Holdings an exclusive marketing right of products containing Prulifloxacin in China. Nippon Shinyaku is to receive from Lee’s Pharmaceutical Holdings 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 by Meiji Seika since December 2002 in Japan and by Angelini since October 2004 in Europe. In addition, Nippon Shinyaku has already concluded the license agreement with Yuhan in Korea and Optimer Pharmaceuticals in U.S. and they are developing Prulifloxacin in their territory.
Outline of Lee’s Pharmaceutical Holdings Ltd.
Corporate Name : Lee’s Pharmaceutical Holdings Limited
Established : 1994
CEO : Dr. Li Xiao Yi
Address : Unit 110-111, Bio Informatics Centre, No. 2 Science Park West Avenue,
Hong Kong Science Park, Shatin, Hong Kong
Employees : 244 (As of December, 2008)
Sales : 1.5 Billion Yen (Fiscal 2008)
Business lines : Manufacture, Development and sale of pharmaceuticals and medical devices