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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.