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| Wednesday, 18 May 2016, 23:55 HKT/SGT | |
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HONG KONG, May 18, 2016 - (ACN Newswire) - China NT Pharma Group Company Limited ("NT Pharma" or the "Company") (stock code: 01011.HK) is pleased to announce the major transaction in relation to the acquisition of Miacalcic Injectable and Miacalcic Spray from Novartis in China and other territories. NT Pharma entered into the Asset Purchase Agreement and the License Agreement with Novartis, pursuant to which Novartis agrees to grant transferred assets and licenses for the Miacalcic Injectable and Miacalcic Spray to the Company. The Transferred Assets mainly include marketing authorisation and IDL, trademarks, know-how, technologies, books and records, commercial information, medical information and marketing authorization data that are related to the commercialized pharmaceutical products and the active pharmaceutical ingredients in the territory, and sales network agreements which may be transferred by global third parties. The purchase price for the Miacalcic Injectable Transferred Assets and provision of licenses for the respective Licensed Assets would be in the aggregate sum of US$145 million (equivalent to approximately HK$1,131 million). The Acquisition will enable NT Pharma to strategically enter the field of orthopedic treatment, enrich its product portfolio, and enjoy a long-term growth potential, so as to create value for shareholders of the Company.
Miacalcic is a well-known international orthopedic salmon-calcitonin brand with the recognition from global medical professionals for the treatment of osteoporosis, prevention of postmenopausal osteoporosis, treatment and prevention of glucocorticoid-induced osteoporosis, prevention of clinical fractures after hip fracture, and treatment of Paget's disease of bone. After a stable sales and marketing for more than 30 years, Miacalcic has established a global sales network, while the Acquisition by the Company mainly covers, among other things, Asia Pacific regions, which includes such countries and regions as the PRC, Hong Kong Special Administrative Region, Taiwan, Switzerland, Egypt, South Korea, Thailand, Singapore, Australia, Malaysia, Vietnam, Russia, India, Brazil, South Africa, etc.
Along with the increasingly rapid aging of population in the PRC and relevant countries and regions, there is a large number of potential customers in need of chronic disease management relating to pharmaceutical products acquired, while there are few generic drug companies of this kind in China. Therefore, the Company believes that Miacalcic has great market potential and the transaction will present huge market opportunities for the Group. Moreover, Miacalcic's wide sales network will help the Company to further expand to markets outside of China, as well as lay a foundation for the Group's other products to enter the international market and realize internationalization.
About China NT Pharma Group Company Limited (Stock Code: 01011.HK)
NT Pharma Group Company Limited is principally engaged in research and development, manufacturing, sales and distribution of pharmaceutical products, as well as the provision of pharmaceutical marketing and promotion services in the PRC with its proprietary core products covering such therapeutic areas as oncology, central nervous system, hepatopathy and respiratory system. The Group has an extensive promotion network in the PRC, covering over nearly 10,000 hospitals. The Group conducts its production through three of its subsidiaries, namely Suzhou First Pharmaceutical Co., Ltd. ("Suzhou First"), Jiangsu NT Biopharma Co., Ltd. ("Jiangsu Biopharma") and NT Pharma Changsha Pharmaceutical Co., Ltd. ("Changsha Pharma"). Suzhou First has been certified by the new GMP, and has obtained approvals from the SFDA for 131 drug registration licences. Jiangsu Biopharma mainly produces anti-tumour drugs and Changsha Pharma mainly produces traditional Chinese medicine for treatment of hepatopathy.
About Novartis Group (Stock Code: SIX: NOVN, NYSE: NVS)
Novartis Group, Novartis AG and Novartis Pharma AG being called collectively, provides innovative healthcare solutions that address the evolving needs of patients and societies. Novartis is the only global company with leading positions in these areas, whose products are available in more than 180 countries around the world. In 2015, Novartis Group achieved net sales of USD49.4 billion, while R&D cost amounted to approximately USD8.9 billion (USD8.7 billion excluding impairment and amortization charges). Novartis Group companies employ approximately 119,000 full-time-equivalent associates.
Topic: Press release summary
Sectors: Daily News, BioTech
https://www.acnnewswire.com
From the Asia Corporate News Network
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