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CSPC Licenses Global Rights of a Generic Oncology Drug to Watson for up to $106 million

Apr. 20, 2016

The CSPC Pharmaceutical Group announced on April 20, 2016 that CSPC Zhongqi, its wholly owned subsidiary, entered into an agreement with Watson Laboratories. The agreement includes product licensing and commercialization of a complex generic oncology drug in the global market except China.

Pursuant to the agreement, Watson will make milestone payments to CSPC Zhongqi of up to an aggregate amount of US$106 Million subject to the drug development and registration progress and amount of future sales achieved by Watson globally.