Gan Li Pharmaceutical (603087.SH) and Menarini sign license agreement for the boflavin project

Zhitong Finance App News, Ganli Pharmaceutical (603087.SH) issued an announcement. Recently, the company and Menarini reached an exclusive license agreement to grant Menarini the right to market, register and commercialize the bovenglutide overweight or obesity indication program independently developed by the company within the authorized region. The company licensed the exclusive rights to develop and commercialize boflavin in 27 EU member states and 39 European countries and regions, including the United Kingdom, Switzerland, Norway, Iceland, Liechtenstein, and the Balkans, to Menarini for a fee.

According to the terms of the agreement, after signing the contract, Menarini will pay a non-refundable down payment of 62 million euros; in the process of developing and commercializing authorized products for obesity indications, Menarini will pay the company R&D milestones, marketing milestones and sales milestones, up to a cumulative maximum of 664 million euros; after the product is commercialized within the scope of the license, Menarini will pay the company a gradient royalties based on annual net sales at the highest double digit ratio.

As a potential world's first GLP-1RA biweekly formulation, bofan glutide will further enrich the medication choices of obese patients around the world and enhance the accessibility of high-quality drugs if the agreement is successfully implemented.