The Israeli oramed, which makes oral insulin, has entered into a cooperation with a Chinese enterprise with an amount of more than 50 million US dollars
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Last Update: 2015-12-01
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Source: Internet
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Author: User
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On the evening of November 30, oramed pharmaceuticals, an Israeli pharmaceutical manufacturer, announced that it had signed a license and investment agreement with Hefei Life Science Park Investment and Development Co., Ltd (hereinafter referred to as Hefei life science and Technology) worth more than 50 million US dollars According to the agreement, Hefei life technology will obtain the exclusive marketing right of oramed oral insulin capsule in Greater China The company will pay oramed $11 million in cash, an additional $27 million after reaching certain sales milestones, and a royalty equivalent to 10% of net sales Oramed will issue 1155000 restricted shares to Hefei life technology at a price of $10.39 per share, with a total value of $12 million Nadav Kidron, chief executive of oramed, said that China has become the world's number one diabetes country Once the insulin capsule is approved to be listed in China, it will have a very significant impact on the company's future revenue and profitability Oramed said last month that the drug's mid-term trial in patients with type 1 diabetes in the United States has reached its main goal (BIOON Com)
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