Lantheus Announces Partnership for Distribution of Definity Echo Contrast in China
February 29, 2012 — Lantheus Medical Imaging Inc. announced a strategic distribution arrangement for its Definity cardiac ultrasound contrast agent in the People’s Republic of China, including Hong Kong S.A.R. and Macau S.A.R.
The board of directors for both Lantheus and Beijing Double-Crane Pharmaceutical Company Ltd., a leading pharmaceutical company based in Beijing, have approved a 15-year agreement for exclusive distribution and supply of Definity, an ultrasound contrast agent for use in echocardiograms. This agreement expands global access to Definity in a key geographic region. Definity is currently approved in North America, Europe, and a number of other countries. Lantheus and Double-Crane plan to fully execute the agreement in the next several weeks in China.
Under the terms of the agreement, both parties will collaborate on confirmatory clinical trials to commercialize Definity in China for use in cardiac disease. Double-Crane will conduct the clinical trials once the design has been agreed upon with Lantheus, and Lantheus will provide regulatory support and product for the trials. Lantheus and Double-Crane will work together to develop new indications.
The agreement also provides Double-Crane the right of first negotiation to manufacture Definity in China upon the achievement of certain sales levels. In addition, Double-Crane has the right to negotiate the manufacture of Definity in China in the event Lantheus chooses to seek a Chinese manufacturing partner for the product.
“The distribution and supply agreement with Double-Crane supports our commitment to global expansion to help improve the treatment of human disease in key international markets,” said Don Kiepert, president and CEO, Lantheus Medical Imaging. “Definity is an important diagnostic tool that can provide critical patient information to help physicians make more informed patient management decisions. We are pleased to announce this agreement to enter the Chinese market and look forward to working closely with such an esteemed partner as Double-Crane to make Definity available to both physicians and patients in China.”
Double-Crane is focused on the development of products in the area of cardiovascular disease. This partnership with Lantheus is part of Double-Crane’s strategic development plan in support of China’s “National 12th Five-Year Development Program.” This partnership will support Double-Crane in achieving its objective to enhance its product pipeline with a globally branded drug, such as Definity.
“We are very pleased to be the exclusive distributor of Definity in China,” said Li Xin, president of Double-Crane. “Distribution of Definity into China will significantly help Chinese physicians to diagnose diseases and provides a new tool for the management of patient care. We believe Definity will also bring a great economic outcome in health care management in China. In addition, Definity will play an important role in the portfolio of cardiovascular products of Double-Crane. The exclusive distribution and supply of Definity will enhance our competitive advantage in the area of cardiovascular diseases.”
For more information: www.definityimaging.com