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news.China Medical System Holdings has reached an agreement with its marketing partner, Ophol, to gain full control of distributing Augentropfen Stulln Mono in China.
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Under the agreement, the company purchased back 49% of the drug agency and distribution right from Ophol, for an ongoing royalty payment of RMB6 million per year.
The company has also renewed its exclusive agency and distribution right, with the drug inventor, Pharma Stulln, to market and distribute Stulln for the next 10 years in China, with effect from August 2008.
Stulln (an eye drop) is a Chinese State Food Drug Administration approved treatment for senile macular degeneration.
Lam Kong, CEO of China Medical System Holdings, said: “The revenue contribution of Stulln is becoming more significant and we are very pleased to gain its full exclusive agency right. With the full control of this drug we will be in a better position to develop the product in the market place.”