Tasly enriches foreign portfolio

Tianjin-based Tasly Pharmaceutical Group Co Ltd is revving up efforts to boost the introduction of overseas counterparts' products to China.

The company inked a licensing agreement with Japanese EA Pharmaceutical Co Ltd on Wednesday, giving it the rights to develop, produce and commercialize EA's new kidney disease treatment medicine, a drug that treats enlargement of one or more of the parathyroid glands caused by end-stage renal impairment and dialysis.

The total value of the deal is $24 million plus royalties and Tasly will pay $3 million to initiate the project and participate in the third phase of clinical tests and research with EA.