The board of Luye Pharma Group Ltd. (2186.HK) announced that certain subsidiaries of the Group have entered into an agreement with Jiangsu Nhwa Hexin Pharmaceutical Marketing Co., a subsidiary of Jiangsu Nhwa Pharmaceutical Co. (002262.SZ), granting Jiangsu Nhwa Pharmaceutical the exclusive rights to commercialize three long-acting injectable antipsychotics in the Chinese Mainland. The three products are Rykindo, Ruibailai, and Meibirui, all indicated for the treatment of schizophrenia.
Jiangsu Nhwa Pharmaceutical will be exclusively responsible for the distribution andcommercialization of Rykindo, Ruibailai, and Meibirui in the Chinese Mainland, with Luye Pharma retaining ownership of the products' assets, marketing authorizations, and all related intellectual property rights while remaining responsible for their manufacture and supply. The term of the Agreement is ten years. Upon the signing of the Agreement, Nhwa will pay a onetime, non-refundable licensing fee of $20 million to Luye Pharm.
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