Oct. 22, 2015
Shandong Luoxin Pharmaceutical Group announced its agreement with Korea-based CJ HealthCare, according to which Luoxin will have the exclusive right to develop, manufacture and commercialize CJ’s CJ-12420 in China. Under the agreement, Luoxin will be responsible for development, manufacturing and commercial activities in China and will bear all associated expenses. Terms of the agreement include an up-front cash payment and subsequent clinical-, regulatory- and performance-based milestone payments. Luoxin will also pay CJ double-digit percentage royalties on net sales of CJ-12420 in China.