Brief: Tianda Pharmaceuticals says Bristol-Myers Squibb to reacquire drug rights from unit
17/08/2016 10:12
Aug 17 (Reuters) - Tianda Pharmaceuticals Ltd 0455.HK : * Voluntary announcement-business update on investment in an oncology therapies research and development company 0455.HK * Unit,ASLAN, announced Bristol-Myers Squibb would reacquire the rights to aslan002 in China, Australia, Korea, Taiwan and other Asian territories * Aslan will receive upfront payment of US$10 million and is eligible to receive development and regulatory milestones in excess of US$50 million * Aslan is eligible to receive royalty payments on future worldwide sales of its products * Source text (http://bit.ly/2bmJkkd) * ((Further company coverage: 0455.HK )) ((Bangalore.newsroom@thomsonreuters.com))
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