Shang Hai Zheng Quan Bao·2026-02-24 17:09Core Viewpoint - Shanghai Fosun Pharmaceutical Group Co., Ltd. has made significant progress in licensing agreements with its subsidiaries, focusing on expanding the commercialization of its PD-1 monoclonal antibody product, Surufatinib injection, in various international markets [2][3][12]. Group 1: Previous Cooperation - The company’s subsidiary, Fuhong Hanlin, signed exclusive licensing agreements with KGBio in September 2019 and August 2023 for the commercialization of Surufatinib in Southeast Asia, the Middle East, and North Africa [2]. - A new licensing agreement was signed with Abbott on December 31, 2024, granting exclusive commercialization rights in Latin America and the Caribbean [2]. Group 2: Recent Developments - On February 24, 2026, Fuhong Hanlin and KGBio agreed to terminate the 2023 exclusive licensing agreement and the exclusive commercialization rights in all regions except Indonesia [3]. - The licensing agreement with Abbott was amended to expand the licensed regions and include additional regulatory and sales milestone payments [3][12]. Group 3: Product Information - Surufatinib injection is an innovative PD-1 monoclonal antibody developed by the group, approved for use in multiple countries including China, the EU, and several Southeast Asian nations [5]. - The drug has received orphan drug designation in various regions and is undergoing clinical trials for multiple cancer indications [5]. - According to IQVIA, the global sales of PD-1 monoclonal antibodies are projected to reach approximately $45.7 billion in 2024 [5]. Group 4: Parties Involved - KGBio, established in 2016 and a subsidiary of Kalbe Farma, is listed on the Indonesia Stock Exchange and operates in various pharmaceutical sectors [6]. - Abbott, founded in 1888 and based in the U.S., is a publicly traded company involved in diagnostics, medical devices, nutrition, and pharmaceuticals [7]. Group 5: Agreement Details - The amendment with KGBio includes the termination of certain licensing rights and a reduction in milestone payments, while maintaining sales milestone payments for Indonesia [8]. - The amendment with Abbott includes the addition of 42 new countries/regions for licensing and stipulates potential milestone payments totaling up to $46 million for regulatory and sales achievements [9][10]. Group 6: Impact on the Company - The termination of certain commercial collaborations with KGBio and the expansion of the agreement with Abbott are aimed at enhancing the international market reach and recognition of the group’s innovative PD-1 monoclonal antibody product [12].