Shandong Luoxin Pharma in-licensed China rights to a gastritis anti-ulcer drug from CJ Healthcare of South Korea. Luoxin paid $10.5 million upfront and will pay royalties that could total an additional $82 million. Luoxin will manufacture the drug, CJ-12420, which has begun a Phase III trial in South Korea. Luoxin expects to market the drug as a treatment for regurgitation gastritis and gastroesophageal reflux disease.
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