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Fosun Subsidiary to In-license Diabetes Drug from Canadian Pharma

publication date: Aug 19, 2013
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Wanbang Pharma, a subsidiary of Fosun Pharma, has signed a Letter of Intent to in-license China rights for a diabetes 2 treatment from Sirona Biochem of Canada. The molecule is a member of a new class of oral diabetes drugs known as SGLT2 inhibitors. Wanbang, which will be responsible for obtaining CFDA approval of the drug, will pay up to $9.5 million in upfront and regulatory milestones to Sirona plus royalties, once the drug enters the marketplace. More details....

Stock Symbols: (SHA: 600196; HK: 2196) (TSX: SBM)

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