Fosun Pharma Unit Inks $533M Deal To Sell Medical IP Rights

Law360, New York (October 23, 2013, 3:18 PM EDT) -- Shanghai Fosun Pharmaceutical Group Co. Ltd. subsidiary Chongqing Fochon Pharmaceutical Co. Ltd. will sell intellectual property rights to two medical compounds believed to be the early makings of diabetes and cancer treatments for €388 million ($533 million) to clinical research company Sellas Clinicals Holding AG, the companies announced Wednesday.

Under the deal, Chongqing will be paid 10 percent royalty fees on all net revenue of each compound earned by Sellas or any subleaser worldwide, except in China, for a term of eight years set to begin...
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