Feb. 28, 2012
US-based Cumberland Pharma announced on February 29, 2012 that it has out-licensed the China rights for two of its drugs to Chinese Harbin Gloria Pharma. The two drugs are Acetadote, an injectable drug used to treat acetaminophen overdose, and Caldolor, an injectible form of ibuprofen used to treat pain and fever in hospitals. The agreement will provide Harbin Gloria exclusive rights to register and commercialize both drugs in China.
Under the terms of the agreement, Harbin Gloria is responsible for seeking regulatory approval for the two injectable products in China and would handle ongoing regulatory reporting, product marketing, distribution and sales in the country following approval. Cumberland maintains responsibility for the intellectual property, product formulation, development and other supporting activities. In exchange for the license for the product, Cumberland will receive upfront and milestone licensing payments, as well as royalties for future sales of both drugs.