Feb. 16, 2016
Rockwell Medical, Inc. announced on Feb. 16, 2016 that it has signed an exclusive licensing and manufacturing supply agreement with Wanbang Biopharmaceutical Co. Ltd., a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co. Ltd. for the rights to commercialize Rockwell's drugs in the People's Republic of China. The drugs in question are Triferic and Calcitriol for End-Stage-Renal-Disease (ESRD) patients. Triferic is Rockwell's proprietary iron replacement and hemoglobin maintenance drug for treating anemia. Calcitriol is Rockwell's generic (active vitamin D) injection for treatment of secondary hyperparathyroidism in dialysis patients.
Under the terms of the agreement, Wanbang will become the exclusive distributor for Triferic and Calcitriol in China for an initial commercial term of 10 years, with an extended term of 10 or more years based on achievement of annual minimum purchase requirements. In exchange for the exclusive rights, Rockwell will receive an upfront fee plus regulatory and revenue milestone payments totaling USD$39 million in aggregate. Notably, Rockwell will receive ongoing earnings from product sales of Triferic and Calcitriol, and other additional therapeutic indications of Triferic. Rockwell retains manufacturing responsibility for all products.