wanbang and bial enter into an exclusive distribution and sales agreement for an anti-parkinson disease drug
jan. 8, 2018, jiangsu wanbang biopharmaceutical group co., ltd. (wanbang), a subsidiary of shanghai fosun pharmaceutical (group) co., ltd. (fosun pharma, sha: 600196 and hkg: 02196) and bial – portela & ca, s.a.,(bial) entered into an agreement, which allows wanbang to act as an exclusive distributor and local sales agent in mainland china for opicapone (abroad trademark: ongentys® , the product), a comt inhibitor originated by bial.
under the terms of the agreement, wanbang will pay bial an upfront license fee of 2.5 million euros, purchase the bulk product from bial according to the agreed supply price, package into finished product, and pay bial up to 12.5 million euros in further milestones.
as one of the core members of fosun pharma, wanbang focuses on the development, manufacturing and distribution of pharmaceutical products concerning many treatment fields such as hypoglycemic, hypertensive, hypolipidemic, uric acid, and tumor. bial is a 93 years innovative pharmaceutical company. being a leading company in portugal, with r&d and production centers in its headquarters, bial manufactures and markets its r&d products focused on neurosciences, as well as a diversified portfolio of licensed medicines in over 50 countries across the world.
parkinson’s disease (pd) is the second most severe neurodegenerative disease, next to alzheimer's disease. and as a neurodegenerative disease with a feature of low mortality high disability, it severely threats the health of the elderly people. according to domestic studies, the incidence rate of pd in population over than ages of 65 is 1700/105, indicating a patient population of 100 thousand new cases every year in china. according to ims midastm, as of september, 2017, the market size of anti-pd drugs in china is rmb 975 million.
with the acceleration of the aging population in china, pd has placed a big burden on patient, family, society and healthcare settings. this collaboration conduces to the integration of the existing advantages of both parties, and to the satisfaction of the urgent need of drug access and standardized treatment for pd patients in china.
headquarter: porto, portugal.
founded in: 1924
legal representative: mr. antónio portela
founded in 1924, bial’s mission is to discover, develop, and provide therapeutic solutions within the area of health. in recent decades, bial has strategically focused on quality, innovation, and internationalization.
bial is strongly committed to therapeutic innovation, investing more than 20 per cent of its annual turnover in research and development (r&d) centered on the neurosciences and cardiovascular system. the company expects to introduce more new medicines to the market in the next years, strengthening its international presence based in its own innovative medicines and accomplishing the purpose of delivering innovative products to patients worldwide.
for more information about bial, please visit www.bial.com.