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January 30, 2013
16:03 EDTSCLN, SNYSciClone announces product promotion agreement renewal with Sanofi in China
SciClone (SCLN) announced that it has successfully negotiated renewals of its exclusive product promotion agreement with Sanofi (SNY) for the China market. Under the terms of the Sanofi agreement, SciClone, through its wholly owned subsidiary, Novamed Pharmaceuticals, exclusively promotes four key products: the anti-epileptic Depakine; the hypnotic Stilnox; the ACE inhibitor Tritace and Xatral, an alpha-1 adrenergic blocker used to treat benign prostatic hyperplasia or BPH. Depakine revenues rank second among SciClone's revenue-generating products and during the last three years under the promotional agreement, sales have increased significantly on an annual compounded basis. As the set of current agreements will expire between the end of 2012 and June 30, Sanofi and Novamed have decided to group the products and renew their agreement till December 31, which may be further extended should both parties find agreement under the terms of the contract extension.
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