Beijing Strong Biotech Grants Technology License To Abbott

Beijing Strong Biotechnologies (BSBE) recently signed a technology license granting Abbott Labs rights to its clinical chemistry testing products, which BSBE currently manufactures in China. Initially, the agreement gives Abbott rights to 55 products in return for upfront and milestone payments, plus royalties on sales for a specified period. In addition, Abbott will have the right to add additional products over time. Although the agreement was signed in February, it was not widely publicized at the time. Financial details were not disclosed.