Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd (HKG: 1349; SHA: 688505), a Chinese biopharmaceutical company, has reached an agreement with Hanhui Pharmaceutical Co., Ltd’s wholly-owned subsidiary to terminate the market promotion service agreement for its doxorubicin in liposome injection formulation, branded as Libaoduo.
The original agreement was signed in October 2018, establishing a ten-year partnership that granted Hanhui exclusive rights to provide marketing and academic promotion services for the drug. However, the agreement was dissolved on December 31, 2023, following the drug’s failure to meet sales targets.
As per the latest agreement, Fudan-Zhangjiang is set to pay Hanhui a net sum of RMB 74.84 million.- Flcube.com
