China’s National Medical Products Administration (NMPA) has conditionally approved HeNan Genuine Biotech Co., Ltd’s azvudine for the treatment of COVID-19 infection. The drug, originally approved in July 2021 for adult HIV-1 patients with high viral loads, can now be used to treat ordinary COVID-19 adult patients.
Licensing Agreement
Shanghai Fosun Pharmaceutical (Group) Co., Ltd (600196.SH; 02196.HK) announced a licensing deal with Genuine Biotech to co-develop and exclusively commercialize azvudine for COVID-19 and HIV/AIDS. The agreement covers mainland China (Territory 1) and global markets outside mainland China, excluding Russia, Ukraine, Brazil, and other South American countries (Territory 2).
Financial Terms
Fosun will pay Genuine Biotech RMB 100 million (USD 14.8 million) upfront. Additional payments include RMB 399.4 million (USD 59.1 million) upon activation of Territory 1 cooperation and RMB 300 million (USD 44.4 million) if Territory 2 cooperation is triggered.-Fineline Info & Tech
