Iron Sucrose Rechon is an intravenous formulation of iron, used for anemia treatment.
Under the contract, Sobi will be the marketing and sales partner for Dongbao’s pipeline of products in Europe and Dongbao will be the marketing and sales partner for selected Sobi’s products in China.
Sobi is expected to pay a regulatory approval milestone of EUR1.2m to Rechon. In addition, Sobi will pay a transfer price and a royalty on net sales to Rechon Life Science.
Dongbao vice president and chairman Rechon Zhaoqi Li said that they are proud to have chosen Sobi as partner to promote and distribute Rechon’s product Iron Sucrose Rechon to the European market.
"We are also anxious to start the regulatory process for some of Sobi’s interesting and valuable products in China," Li said.