China Medical System Holdings Limited (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce that the Group through its wholly-owned subsidiary entered into an Asset Purchase Agreement (the “Agreement”) with German pharmaceutical research company Venus Pharma GmbH (“Venus Pharma”) dated 20 July 2018. According to the Agreement, the Group acquired all assets (the “Assets”) of Venus Pharma’s current product portfolio (the “Products”) related to the market in China (Chinese Mainland, Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan) (the “Territory”), and the Assets include without limitation to know-how, all intellectual property or the right of application for the intellectual property, all necessary regulatory approvals, documents, dossiers, data or information exclusive to the Territory and other rights to develop, register, manufacture and commercialize the Products in the Territory.
The transaction involved six injections, including four anti-tumor products and two antibiotic products. The four anti-tumor products are Gemcitabine, Docetaxel, Pemetrexed and Bortezomib, among which the first three products are mainly used for the treatment of common cancers such as non-small cell lung cancer, pancreatic cancer, breast cancer, prostate cancer, etc. Bortezomib is used for the treatment of multiple myeloma, a common hematological malignancies.
According to the IMS data, sales of drugs with the same Active Pharmaceutical Ingredients (“API”) of Gemcitabine exceeded RMB2 billion, sales of drugs with the same API of Docetaxel and Pemetrexed exceeded RMB3 billion, and sales of drugs with the same API of Bortezomib exceeded RMB600 million, in 2017. The four products are all commonly used drugs for clinical anti-tumor therapy, recommended by guidelines, and included in Class B of the National Reimbursement Drug List.
The two antibiotic products are Meropenem and Imipenem, both of which are carbapenem antibiotics, having a wide range of antibacterial effects and being used to treat a variety of infections. According to IMS data, sales of drugs with the same API of Meropenem and Imipenem in China exceeded RMB4 billion and RMB2.5 billion, respectively, in 2017. Both Meropenem and Imipenem are included in Class B of the National Reimbursement Drug List.
If the cooperation products are successfully listed, CMS will enrich its product range and expand the product layout.