Sisram Medical renews connected-party deals with Fosun Pharma subsidiary, proposes US$15.00 million cap for 2027

Bulletin Express
Oct 28

Sisram Medical Ltd has signed a one-year New Sublicense Agreement and two New Promotional Services Agreements with Fosun Wanbang (Jiangsu) Health Development Co., Ltd., an indirect wholly owned subsidiary of controlling shareholder Shanghai Fosun Pharmaceutical (Group) Co., Ltd.

The contracts cover the PRC commercialisation of DAXXIFY/达希斐, a botulinum toxin type A injectable that began sales in early 2026. Under the New Sublicense Agreement, Fosun Wanbang will handle import, customs clearance, warehousing, distribution and channel management from 1 January to 31 December 2027. Sisram Tianjin, a wholly owned unit of Sisram Medical, will receive a royalty equal to 20 % of Fosun Wanbang’s sales revenue from the product.

Parallel New Promotional Services Agreements appoint Sisram Tianjin to provide marketing, academic promotion and commercial policy support. Promotional service fees are calculated as total product sales (ex-VAT) minus procurement costs, import taxes, operating costs, royalty fees and other expenses. One-third of 2027 operating costs will be settled in the first quarter of 2030 with simple interest of 3 % per annum; a similar deferral applies to two-thirds of operating costs incurred from 1 October to 31 December 2026, repayable in the first quarter of 2029.

Proposed annual caps for transactions in 2027 are: • Royalty fees: US$6.50 million • Promotional service fees: US$8.50 million • Aggregate: US$15.00 million

An extraordinary general meeting will be held on 3 December 2026 in Hong Kong. Fosun Pharma Industrial Pte. Ltd., which holds 71.53 % of Sisram Medical’s issued shares, must abstain from voting. An independent board committee and Rainbow Capital (HK) Limited, acting as the independent financial adviser, both conclude that the agreements and caps are fair, reasonable and in the interests of independent shareholders.

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