pharmaceutical company Novamed the exclusive rights to submit a registration application for the Chinese market för Abstral, a product developed by Orexo, to treat break-through pain in cancer patients. Novamed will also conduct the clinical study program required for a Chinese market registration. After registration Novamed will market and sell the product in China.
up to MUSD 4.75, partly as an initial fee and partly as milestone payments. Orexo is also granted a non-disclosed part of the future sales.
The deal is a first step into one of the fastest growing pharmaceutical markets of the world.
"Novamed have an experienced
marketing- and sales organization with a sales force of 400 and a broad product portfolio for treatment of cancer. This makes the company an ideal partner for us in China,” states Torbjörn Bjerke, CEO of Orexo.
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