LONDON (Thomson Financial) – China Medical Systems Holdings Ltd (CMS) said it has signed an exclusive agency and distribution agreement with Bioniche Teoranta to distribute Bioniche‘s proprietary product， Cystistat in China， excluding Hong Kong.
The financial details of the deal were not provided.
The Chinese pharmaceutical group said， under the agreement， it is committed to purchasing a minimum quantity of Cystistat， used in the prevention of several forms of bacterial cystitis， from Bioniche over the next five years.
CMS also has the option to extend the agreement to eight years upon reaching certain purchase targets within the five year period， and indefinitely upon maintaining the purchase targets in subsequent years， it added.