Sinopharm Group Affiliate Pays $6.5 Million Milestone To Oramed

Hefei Tianhui Incubator of Technologies, a Sinopharm affiliate, made a $6.5 million milestone payment to Oramed Pharma as part of HTIT's in-licensing of Oramed's oral insulin product. Oramed recently announced positive top-line results from a US Phase II trial of the product in patients with type 2 diabetes. In November 2015, HTIT agreed to a $50 million package for China rights to the Oramed's oral insulin. HTIT is partially owned by China's giant state-owned Sinopharm.