Lantheus Medical Imaging has inked a strategic distribution arrangement with the People's Republic of China for its Definity ultrasound contrast agent. The agreement also includes Hong Kong and Macau.
The boards of directors of both Lantheus and Beijing Double-Crane Pharmaceutical have approved a 15-year agreement for the exclusive distribution and supply of Definity. Lantheus and Double-Crane plan to fully execute the agreement in the next several weeks in China, according to the firm.
Under the terms of the agreement, both parties will collaborate on 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 also plan to work together to develop other new indications.
Finally, the agreement gives Double-Crane the right of first negotiation to manufacture Definity in China upon the achievement of certain sales levels, Lantheus said.
