39 million dollars!

Recently, Huadong Pharmaceutical issued an announcement stating that its wholly-owned subsidiary Hangzhou Sino-American Huadong Pharmaceutical Co.
, Ltd.
(hereinafter referred to as "China-American Huadong") and South Korean pharmaceutical company Daewon Pharmaceutical Co.
, Ltd.
(hereinafter referred to as "Daewon") reached an exclusive agreement.
License agreement
.
According to the agreement, Sino-US East China will grant Daewon the exclusive development, production and commercialization rights in Korea for the global innovative oral small molecule GLP-1 product TTP273, which is under clinical phase II research
.
Daewon will pay US$1.
5 million in advance to East China, as well as development, registration and sales milestones of up to US$37.
5 million, and an agreed percentage of net sales commission fees
.
It is understood that TTP273 is a global innovative oral small molecule GLP-1R (Glucagon-like peptide-1 receptor) agonist introduced by China-US East China in December 2017 by vTv Therapeutics LLC of the United States.
It has exclusive licenses for development, production and commercialization in 16 countries and regions
.
After the completion of the external authorization transaction with Daewon, Sino-US East China will cooperate closely with Daewon on subsequent research and development, registration and marketing, and promote the registration, marketing and subsequent research and development of the product in the authorized area
.
Industry analysts believe that the authorization of Huadong Medicine's innovative diabetes drugs for Korean pharmaceutical companies is actually a microcosm of the current booming development of domestic pharmaceutical innovation
.
In recent years, with the continuous improvement of the innovation capabilities of local pharmaceutical companies and the gradual recognition of the innovative strength of local pharmaceutical companies by foreign-funded companies, the speed of "going overseas" of domestically-made innovative drugs has been accelerating
.
According to incomplete statistics, there have been 271 cross-border transactions between Chinese pharmaceutical companies and overseas pharmaceutical companies in 2020, an increase of 300% compared to 2015
.
Among them, the cases of Chinese innovative drug companies authorized overseas, and the cases of overseas listing of Chinese innovative drugs have increased significantly
.
In addition, the transaction volume is also expanding
.
For example, in 2020, Bayer used an advance payment of 300 million yuan and a milestone payment of up to 4.
18 billion yuan to obtain the exclusive commercialization rights of Dozaglietin of Hua Medicine in China, and is responsible for its market in China.
Marketing, promotion and medical education activities
.
Similarly, on July 25, 2020, Pfizer obtained the academic promotion right of its self-developed tetravalent meningococcal conjugate vaccine in the Chinese mainland market from CanSino Bio; in addition, it also paid 280 million yuan on September 30, 2020.
U.
S.
dollar obtained the commercialization authorization of its oncology product suglimumab in mainland China from CStone Pharmaceuticals
.
It is worth mentioning that in 2020, the foreign authorized amount of Chinese innovative drugs is that AbbVie obtained the CD47 monoclonal antibody lemzoparlimab (TJC4) from Tianjing Biologics with a total amount of nearly US$3 billion for development and development in countries and regions outside of Greater China.
Commercial license rights
.
The industry believes that behind the increasingly active license-out is the gradual improvement of China's new drug research and development capabilities, which are recognized by overseas markets
.
It is understood that in recent years, a large number of domestic innovative pharmaceutical companies have successively approved products for listing abroad.
This is not only due to the increasing enthusiasm of Chinese pharmaceutical companies to tap foreign markets under the overseas strategy, but also the consistency evaluation and other medical reform policies for domestic innovative drugs.
Market incentives and many other factors
.
But in general, this means that China's pharmaceutical industrialization is an inevitable trend of industry transformation and technological progress.
In the future, under this trend, more domestically produced new drugs will be recognized by overseas markets
.
However, at the same time, it needs to be noted that domestically-made innovative drugs are also facing many challenges when going overseas, such as the increasingly fierce competitive environment and the crowded some popular tracks
.
Therefore, for Chinese local innovative companies, while exploring the cooperation and development of subdivision technology in the future, they should also focus on the innovation of targets, the uniqueness of assets, and the quality of clinical data (especially overseas).
Consider
.