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3SBio Inc. — Capital/Financing Update 2021
Feb 5, 2021
49981_rns_2021-02-05_6af94371-490e-4d25-8dda-8c6f56ac8032.pdf
Capital/Financing Update
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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(Incorporated in the Cayman Islands with limited liability) (Stock Code: 1530)
BUSINESS UPDATE — EXCLUSIVE LICENSE AGREEMENT WITH ASTRAZENECA IN RESPECT OF BYETTA AND BYDUREON
Reference is made to the announcement of 3SBio Inc. (the “ Company ”, together with its subsidiaries, the “ Group ”) dated 11 October 2016 in relation to the discloseable transaction regarding the exclusive license agreement with AstraZeneca (the “ Announcement ”) for the Commercialization of Byetta and Bydureon as the Licensed Products under the Exclusive License Agreement. Unless otherwise defined, the terms adopted in this announcement shall have the same meaning as those defined in the Announcement.
The Company wishes to update its shareholders that due to streamlining of the relevant Licensed Products, with effect from 25 January 2021, all the arrangements in relation to Bydureon License Products have been terminated and Hongkong Sansheng is therefore relieved from any further and future obligations in respect of the Bydureon Licensed Products.
Hongkong Sansheng and AstraZeneca will continue to cooperate for the Commercialization of the Byetta Licensed Product under the Exclusive License Agreement, and the Group will continue to explore other collaboration and business opportunities with AstraZeneca.
The Board considers that the cessation of the arrangements in relation to the Commercialization of the Bydureon Licensed Products has no material impact on the operation and financial position of the Group as the financial contributions by the Bydureon Licensed Products to the Group have been nominal.
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The Group will continue to explore other collaboration and business opportunities with reputable pharmaceutical companies and distributors like AstraZeneca and other major industry players.
By order of the Board 3SBio Inc. Dr. LOU Jing Chairman
Shenyang, the PRC 5 February 2021
As at the date of this announcement, the directors of the Company are Dr. LOU Jing and Ms. SU Dongmei as executive directors; Mr. HUANG Bin and Mr. TANG Ke as non-executive directors; and Mr. PU Tianruo, Mr. David Ross PARKINSON and Dr. WONG Lap Yan as independent non-executive directors.
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