18 03 2016

China Medical System signed a licensing agreement with AstraZeneca for two drugs for hypertension medicine for $500 million

AstraZeneca has announced it has entered into a licensing agreement with China Medical System Holdings Ltd for the commercialisation rights in China to its calcium channel blocker, Plendil (felodipine).


The two transactions involved China Medical System paying US$310 million for a 20 year licence to sell Plendil blood pressure medicine in China, and funding its 26% owned Shanghai listed associated company Tibet Rhodiola Pharmaceutical Holdings Co., Ltd. to acquire Imdur angina treatment product for the global market other than the US for US$190 million. China Medical System will ultimately capitalise its funding provided to, and increase its shareholding in Tibet Rhodiola Pharmaceutical. Ashurst has advised China Medical System Holdings on the deal with a team led by partners Joshua Cole (picture) and Lina Lee, assisted by Corporate associates Alistair Tso and Edith Ma. London based Partner Neil Cuninghame played a key role in competition filing analysis in relation to the acquisition of Imdur, supported by Senior Associate Alexi Dimitriou. Involved fees earner: Joshua Cole - Ashurst; Lina Lee - Ashurst; Alistair Tso - Ashurst; Neil Cuninghame - Ashurst; Alexi Dimitriou - Ashurst;

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