Hengrui Pharmaceutical (600276.SH) signed a licensing agreement for the Ruikang trastuzumab project to be eligible for a milestone payment of up to US$1,093 million

Zhitong Financial App News, Hengrui Pharmaceutical (600276.SH) announced that the company reached an agreement with Glenmark Specialtys.a. (“Glenmark Specialty”) to license the company's Class 1 innovative drug Ruikang trastuzumab (SHR-A1811) project with independent intellectual property rights to Glenmark Specialty for a fee.

Hengrui licensed Glenmark Specialty the exclusive right to develop and commercialize Recon trastuzumab on a global scale other than mainland China, Hong Kong Special Administrative Region of China, Macau Special Administrative Region of China and Taiwan, the United States, Canada, Europe, Japan, Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, and Uzbekistan. Glenmark Specialty will pay Hengrui an initial payment of $18 million. Hengrui is eligible for milestone payments related to registration and sales, up to a maximum of $1,093 million. According to Ruikang's trastuzumab sales within the authorized scope, Glenmark Specialty will pay Hengrui a corresponding sales commission.

The signing of this agreement will help expand the overseas market of Recon trastuzumab, provide high-quality treatment options for patients around the world, and further enhance the company's innovative brand and overseas performance. The company adheres to equal emphasis on independent research and development and open cooperation, strengthens international cooperation on the basis of endogenous development, achieves rapid transformation of R&D results, uses leading international partners to cover overseas markets, accelerate integration into the global pharmaceutical innovation network, maximize product value, and enable the company to innovate products to serve patients around the world.