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| SCLN > SEC Filings for SCLN > Form 8-K on 25-Jan-2013 | All Recent SEC Filings |
25-Jan-2013
Entry into a Material Definitive Agreement
On January 18, 2013, SciClone Pharmaceuticals, Inc. (the "Company") (through its subsidiary SciClone Pharmaceuticals International China Holding Ltd.) entered into a new agreement under which Zadaxin® will be imported into the People's Republic of China.
Under the Re-Exportation Agreement (the "Agreement") with Sinopharm Holding Hong Kong Co., Limited ("Re-Exporter") and Sinopharm Holding Lingyun Biopharmaceutical (Shanghai) Co., Limited ("Importer"), the Re-Exporter will purchase Zadaxin® from the Company's subsidiary, which the Importer will import into the People's Republic of China for further distribution.
The Re-Exporter's and Importer's rights under the Agreement are exclusive during the term of the Agreement. The Agreement term expires December 31, 2015, provided that the Agreement will automatically renew for one year terms unless cancelled by either party as provided in the Agreement.
The exclusive rights are subject to Re-Exporter's fulfillment of certain conditions, including ordering minimum agreed quantities of Zadaxin based upon an annual budget determined by the parties.
The Company believes that the Agreement further strengthens its longstanding mutually beneficial relationship with the Sinopharm group, one of the leading companies operating in the healthcare market in China.
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