Luye Pharma Grants AstraZeneca Exclusive Promotion Rights for Lipid-Regulating Drug Lipascor® in Singapore

SINGAPORE, Aug. 26, 2019 /PRNewswire/ -- Luye Pharma Group announced that it has signed an agreement with AstraZeneca, granting the latter exclusive rights to promote the natural lipid-regulating drug Xuezhikang Capsules in Singapore. In March this year, the two parties had already reached a strategic memorandum of cooperation on the global commercialization of this product. The signing of this agreement marks an accelerated advancement in the internationalization process of Xuezhikang.

The registered trade name of Xuezhikang Capsules in Singapore is Lipascor.^®. Under the agreement, AstraZeneca is responsible for Lipascor^®exclusive promotion in Singapore, while Luye Pharma continues to hold the rights other than promotional rights, including asset ownership, sales rights, marketing authorization, and all intellectual property rights for the drug.

Xuezhikang Capsules are a natural lipid-regulating drug independently developed by Luye Pharma. The product has completed Phase II clinical studies under the U.S. FDA and has received marketing approval from the Health Sciences Authority of Singapore. Furthermore, it is available in markets including mainland China, Taiwan, Hong Kong, and Malaysia. Its efficacy and safety in lipid regulation have been confirmed by numerous large-scale, evidence-based clinical studies both domestically and internationally, earning widespread recognition from physicians and patients across various countries through long-term clinical application.

To accelerate the introduction of this high-quality natural medicine to more international markets, Luye Pharma and AstraZeneca signed a strategic cooperation memorandum in March this year to deepen their collaboration on the global commercialization of Xuezhikang Capsules, with a particular focus on enhancing communication regarding market entry into emerging markets and the United States. Both parties aim to leverage their respective resource and product advantages in domestic and overseas markets to jointly promote Xuezhikang Capsules to more countries and regions worldwide, thereby advancing the internationalization of high-quality Chinese pharmaceuticals.

Regarding the outlook for collaboration, the management of Luye Pharma Group expressed full confidence: “AstraZeneca’s extensive experience in the cardiovascular field, excellent academic promotion capabilities, and broad business network will enable Xuezhikang Capsules to achieve more comprehensive and in-depth market coverage in Singapore, effectively helping more cardiovascular patients in need. Singapore marks the first step in our international partnership, holding significant milestone importance. We look forward to working with AstraZeneca to accelerate the expansion of Xuezhikang Capsules in various international markets, further advancing Luye Pharma’s internationalization strategy.”

This YearIn January, AstraZeneca obtained the exclusive promotion rights for Xuezhikang Capsules in mainland China, pioneering the promotion of high-quality domestic natural medicines by large multinational pharmaceutical companies. The strong alliance between the two parties has achieved a successful start to their collaboration, significantly expanding the sales market and channel coverage of Xuezhikang Capsules in China.