Fosun Pharma: A holding subsidiary has reached a licensing cooperation agreement with Sandoz AG for up to 10 biosimilar drugs, with an upfront payment and milestone payments of up to $237 million for the first three products.

Fosun Pharma announced that its holding subsidiary, Huahong Hanzhen, has signed a Cooperation Framework Agreement with Sandoz AG, which allows for overseas licensing cooperation on up to 10 monoclonal antibody and/or antibody-drug conjugate biosimilar products or components from Huahong Hanzhen. Specific commercial terms have been reached for the first three cooperative products, with Sandoz AG set to pay up to $237 million in upfront payments, development milestones, and development budget milestone payments for these three products. Additionally, Sandoz AG will pay up to $77 million in sales milestone payments and a 40% sales share based on net sales or net profit. Furthermore, Sandoz AG has paid an $8 million option fee for one potential cooperation product.