Suzhou Zelgen Biopharmaceuticals (SHA:688266) signed a 15-year agreement granting Ares Trading, Merck's Swiss subsidiary, exclusive marketing rights in China for the company's self-developed recombinant human thyroid stimulating hormone (rhTSH) injection.
Under the deal, Zelgen Biopharmaceuticals will receive up to 250 million yuan, with 50 million yuan upfront and 200 million yuan upon first indication approval, according to a Friday filing with the Shanghai bourse.
Ares Trading will earn a percentage of net sales as a service fee.
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