Puma regains China rights to Nerlynx and amends deal with Fabre

Puma Biotechnology (Nasdaq: PBYI) has agreed to terminate its 2018 license agreement with China-based CANbridge Pharmaceutical, in which the latter was granted exclusive rights to develop and commercialize Nerlynx (neratinib) in Greater China, and to settle their arbitration related to the license agreement.

Simultaneous, Puma – whose shares dipped 2.7% to $10.26 by mid-morning - has agreed with privately-held French drugmaker Pierre Fabre to amend the terms of their 2019 license agreement, which grants Pierre Fabre exclusive rights to develop and commercialize Nerlynx within Europe, Turkey, Middle East and Africa, to also include Greater China, which includes mainland China, Taiwan, Hong Kong and Macau.

At the same time, CANbridge and Pierre Fabre have entered into agreements under which CANbridge will provide Pierre Fabre certain transition services in Greater China and distribute and market Nerlynx for Pierre Fabre in Hong Kong, Macau, and Taiwan until year end 2022, with an option to renew.