For select markets of China, Hong Kong, Macau and Taiwan
Wockhardt Bio AG - a subsidiary of Wockhardt and Jiangxi Jemincare Group Company, China (Jemincare), have partnered for Wockhardt's novel patented antibiotic WCK 4873 (INN: Nafithromycin) in People's Republic of China, Hong Kong, Macau and Taiwan for the treatment of community-acquired bacterial pneumonia and other respiratory tract infections.Under the terms of the definitive agreement, Jemincare will be responsible for exclusive development and commercialization of the Nafithromycin in the select markets. A joint steering committee is formed to oversee development and regulatory activities. Wockhardt will receive an upfront payment and will be eligible for regulatory-linked milestone payments. Further, Wockhardt would supply the product to Jemincare and will receive royalties on net sales. Wockhardt would transfer the manufacturing technology to Jemincare at mutually agreed time.
Wockhardt will continue to develop Nafithromycin for other markets including India where Phase III clinical study is on-going.
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