A worker operates at the workshop of a pharmaceutical company in Shijiazhuang, north China's Hebei Province, Jan. 14, 2022. (Xinhua/Yang Shiyao)
BEIJING, Nov. 18 (Xinhua) -- Chinese pharmaceutical company Yifan Pharmaceutical Co., Ltd. (Yifan Pharmaceutical, 002019.SZ) has recently announced that its subsidiary Evive Biotechnology Inc. (Evive) signed an exclusive license agreement with Acrotech Biopharma Inc. (Acrotech) for the sales of F-627, an injection product under research by Evive, in the United States.
According to the agreement, Acrotech has to pay a maximum of 236.5 million U.S. dollars in exclusive licensing fees and double-digit royalty on tiered net sales to Evive.
Yifan Pharmaceutical's announcement shows that Acrotech was founded in 2018, and is a wholly-owned subsidiary of India's leading generic drug company Aurobindo Pharma Limited in the United States.
In addition, Acrotech has an extensive drug sales force and a well-established drug sales network throughout the United States which will help quickly open the U.S. market for F-627.
(Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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