China Medical System signs Nesiritide distribution deal with Tibet Rhodiola

Company News

LONDON (Thomson Financial) – China Medical System Holdings Ltd said it has signed an exclusive agency and distribution deal with Tibet Rhodiola Pharmaceutical Holding Co to distribute a cardiovascular product for acutely decompensated congestive heart failure patients in China.

The company said it will purchase a minimum quantity of Nesiritide from Tibet Rhodiola in the next three years and complete the phase IV clinical trial of the product in China. In addition, it has the option to extend the agreement to six years upon fulfilling specific purchase targets. ‘We are delighted to add this Class One new drug and expect Nesiritide to contribute positively to the group‘s revenues and profits this year,‘ chief executive Lam Kong said.