As­traZeneca signs deal to pro­mote prod­uct made in Chi­na — in main­land Chi­na; Is­raeli deep brain stim­u­la­tion co Brain­sway sets stage for $30M Nas­daq IPO

→ In what is be­ing tout­ed as the first time a multi­na­tion­al phar­ma com­pa­ny has se­cured a li­cence to sell a drug in Chi­na de­vel­oped by a Chi­nese drug­mak­er, Luye Phar­ma on Wednes­day said it had grant­ed British drug­mak­er As­traZeneca $AZN the ex­clu­sive rights to pro­mote its lipid-reg­u­lat­ing Xuezhikang cap­sules, in main­land Chi­na. The man­u­fac­tur­er of the two decades old prod­uct, made by fer­ment­ing spe­cial red yeast rice, will re­tain all oth­er rights to the as­set and will con­tin­ue to sell it. Chi­na-based Luye said the two par­ties are dis­cussing the pos­si­bil­i­ty of ex­pand­ing Xuezhikang to the US and Eu­rope, as well as oth­er emerg­ing mar­kets.

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