Chinese pharmaceutical major Luye Pharma Group Ltd announced on January 16 that it had signed an agreement with AstraZeneca China for the latter to have exclusive rights to promote its Xuezhikang capsule medicine in the Chinese mainland. According to the agreement, Luye Pharma will retain the asset rights, commercial sales rights, the registration permit, all intellectual property rights and other product-related rights, aside from product promotion rights. The cooperation signifies increasing recognition of Chinese patent medicine and will promote such medicines' image internationally as drugs suitable for disease treatment, instead of simply being healthcare supplements, said Yu Zhibin, traditional Chinese medicine department director with the China Chamber of Commerce for Import and Export of Medicine and Health Products.

Source: Chinadaily