The Medicines Company reaches China licensing partnership

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The Medicines Company, a Parsippany-based biopharmaceutical firm, announced Thursday that it has established a partnership with a California company to license two of its products in China.SciClone Pharmaceuticals, based in Foster City, is a specialty pharmaceutical company focused on China. It will commercialize The Medicines Company’s Angiomax anticoagulant for coronary procedures and Cleviprex blood pressure medicine in the Asian nation.

“We are excited to collaborate with SciClone as one of the few pharmaceutical companies with an established presence in Chinese hospital cardiac cath-labs,” Glenn Sblendorio, president and chief financial officer for The Medicines Company, said in a prepared statement. “With over 400,000 (percutaneous coronary interventions) performed annually, potentially growing to exceed well over 1 million annual PCIs in the coming years, China represents a significant growth opportunity for Angiomax. Cleviprex also represents a differentiated opportunity in the large and growing Chinese anti-hypertensive market.”

Financial terms include net sales royalties payable to The Medicines company, plus an upfront payment, a product support services fee and milestone payments of up to an aggregate of $50.5 million.

“This partnership signals an important commitment of our company to pursue growth opportunities in Asia through partnerships,” Dr. Sanuj Ravindran, vice president, new business ventures, for The Medicines Company, said in a prepared statement. “We will continue to seek to structure collaborative deals for the MDCO portfolio in China and other major markets in the Asia Pacific region.”

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