Shanxi Pharmaceutical Group (01093) and Madrigal Reach Exclusive Authorization Agreement for SYH2086

Citicape Financial APP News, Shanxi Pharmaceutical Group (01093) released an announcement, stating that the group has reached an exclusive authorization agreement with Madrigal Pharmaceuticals, Inc. (Madrigal) for the development, production, and commercialization of its oral small molecule GLP-1 receptor agonist SYH2086 globally.

According to the terms of the agreement, the group agrees to grant Madrigal exclusive authorization worldwide for the development, production, and commercialization of SYH2086, while reserving the right to develop and sell other oral small molecule GLP-1 receptor agonist products in China. The group is entitled to receive a total consideration of up to $20.75 billion, including a prepaid payment of $1.2 billion, potential development, regulatory, and commercial milestones payments of up to $19.55 billion, as well as a high double-digit sales commission based on SYH2086's annual net sales.