Fosun Pharma Terminates $531 Million Out-licensing Deal With Sellas
7/2/2014 9:01:20 AM
In a shocking announcement, Fosun Pharma declared it was ending its $531 million out-licensing deal with Sellas Clinicals Holding, a Greek-Swiss pharma. The transaction gave Sellas ex-China rights to two major Fosun-developed drug programs, one for cancer, the other diabetes. According to the terms of the deal, Fosun was due $11 million in an upfront payment. To date, Sellas has paid only $2 million, even though the transaction was signed in October of 2013.
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