AZ to promote Luye's locally developed CV drug in China

China's Luye Pharma Group Ltd. (HKEX:2186) granted AstraZeneca plc (LSE:AZN; NYSE:AZN) exclusive rights to promote Luye's blood lipid regulator Xuezhikang in mainland China. The partners said this is the first time a multinational pharmaceutical company has gained exclusive rights to promote a locally developed innovative drug in China.

Luye says the deal allows it to take advantage of AZ's distribution network and academic promotion expertise in the cardiovascular field in China. AZ reported $2.8 billion in product sales from China markets during the first nine months of 2018, accounting for 19% of the pharma's total product sales and up 27% from the same period in 2017...