Lansen Pharma acquires China rights to Novartis’ Sicorten Plus

31 March 2014

Hong Kong-listed Lansen Pharmaceutical (HKEX: 503) has acquired the pharmaceutical product, marketed and sold in the People's Republic of China by Swiss drug major Novartis (NOVN: VX) under the Sicorten Plus (halometasone) brand.

Sicorten Plus is used for certain types of skin disease, known as inflammatory skin disease specifically for triclosan-sensitive secondary infection and corticosteroid-responsive dermatitis and eczema diseases. Investment holding company Cathay International owns a 50.56% stake in Lansen.

Financial terms of the deal

Under the terms of an asset purchase agreement, the total cash consideration comprises an upfront payment of $8.0 million, plus additional milestone payments of a total maximum $1.5 million, linked to future sales of Sicorten Plus in China achieved by Lansen.

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