29th Jan 2015 08:33
LONDON (Alliance News) - Hutchison China MediTech Ltd said Thursday that it has signed a deal to distribute and market AstraZeneca PLC's antipsychotic drug Seroquel in China.
Seroquel was launched in China in 2001 as a treatment for schizophrenia and bipolar disorder. Under the deal, Hutchison's subsidiary Hutchison Whampoa Sinopharm Pharmaceuticals Co Ltd will be the exclusive distributor of the drug.
"This exciting collaboration with AstraZeneca, a most important strategic partner for Chi-Med, will allow us to leverage our considerable commercial presence in China against a highly attractive and fast growing commercial opportunity. Seroquel is a very strong global brand and we look forward to helping to grow its distribution and business in China," said Chief Executive Officer Christian Hogg in a statement.
Shares in Hutchison are trading up 5.5% at 1,488.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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