Lee's announces several updates

Lee's Pharmaceutical Holdings Ltd. (HKSE:950) announced several pieces of news, including a deal with the Noden Pharma DAC subsidiary of PDL BioPharma Inc. (NASDAQ:PDLI). Noden granted Lee's exclusive rights in China, including Hong Kong and Macau, and Taiwan to hypertension drug aliskiren. Manufacturing of aliskiren, which is already approved in China, will be transferred to Lee's facility in China in two years.

Under a 2016 deal, Novartis AG (NYSE:NVS; SIX:NOVN) granted Noden exclusive, worldwide commercialization rights to aliskiren to treat hypertension. Aliskiren, a renin inhibitor, is marketed as Tekturna in the U.S. and as Rasilez elsewhere (see BioCentury, May 30, 2016)...