MADRID, Nov. 11, 2021 /PRNewswire/ -- PharmaMar S.A. (MSE: PHM) has announced today a licensing agreement with Lotus Pharmaceutical CO., LTD. (TWSE:1795) to commercialize the anticancer drug lurbinectedin in Taiwan.
Under the terms of the license and commercialization agreement, PharmaMar will receive a non-disclosed upfront payment and will be eligible for additional remunerations, including regulatory and sales milestone payments. PharmaMar will retain production rights and will sell the product to Lotus for its clinical and commercial use.
Lotus will pursue the marketing approval in Taiwan and have the right to market the product exclusively upon approval.
Lurbinectedin was granted accelerated approval by FDA (Food and Drug Administration) for the treatment of metastatic Small Cell Lung Cancer in 2020. In addition, in 2021, lurbinectedin has received marketing approval in the United Arab Emirates, Canada, Australia and Singapore.
According to Luis Mora, General Manager of PharmaMar's Oncology and Virology Business Units, "We are very pleased to sign this new agreement with Lotus, which will allow, if approved, to bring lurbinectedin to all appropriate patients in Taiwan."
Petar Vazharov, Chief Executive Officer of Lotus, said: "Lung cancer has been among the top cause of death in Taiwan for decades. We are very honored to have this opportunity partnering with PharmaMar to offer the patients in Taiwan access to innovative drug, which is aligned with our key focused therapeutic area."
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