BioCentury
ARTICLE | Company News

Fosun gains rights to bremelanotide in China and Taiwan from Palatin

September 8, 2017 8:40 PM UTC

Palatin Technologies Inc. (NYSE-M:PTN) granted Shanghai Fosun Pharmaceutical Group Co. Ltd. (Shanghai:600196; HKSE:2196) exclusive rights to develop and commercialize bremelanotide in China, including Hong Kong and Macau, and Taiwan to treat hypoactive sexual desire disorder (HSDD) in premenopausal women. Palatin will receive $5 million up front and is eligible for a $7.5 million milestone tied to approval of the product in China. The company is also eligible for up to $92.5 million in sales milestones, plus high single-digit to low double-digit royalties...