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Sinopharm Affiliate Pays $50 Million for Oramed's Oral Insulin Product

publication date: Nov 30, 2015
Hefei Tianhui Incubator of Technologies signed a $50 million agreement for exclusive China rights to a clinical stage oral insulin product developed by Jerusalem's Oramed Pharma. HTIT is partially owned by Sinopharm Group. The deal includes a $12 million investment by HTIT in Oramed (giving it a 9% stake), a $3 million upfront payment and $8 million in near-term payments. The rest is for milestones, and HTIT will also pay a 10% royalty, which Oramed said could make a significant impact on its earnings, given China's large population of diabetes patients. More details....

Stock Symbol: (NSDQ: ORMP)

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