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Lansen Pharma Acquires China Rights to a Novartis Dermatology Drug

Mar. 28, 2014

China-based Lansen Pharmaceutical Holdings announced on March 28, 2014, that its subsidiary, LMHK, has entered into a Licensing and Asset Purchase Agreement with Novartis, pursuant to which Novartis agrees to transfer the China-rights of Novartis’ Sicorten Plus™, which is approved for treatment of certain corticosteroid- responsive inflammatory skin diseases, to LMHK.

According to the agreement, LMHK will pay Novartis a total cash consideration comprising an upfront payment of US$8,000,000, plus additional milestone payments of a total of up to US$1,500,000 linked to sales achieved by LMHK following the Closing Date.