China Medical System Holdings (AIM: CMSH) has signed an exclusive license agreement with privately owned French biopharmaceutical group Biocodex for the sale of Bioflor in China. The agreement secures the exclusive rights to sell the probiotic anti-diarrheal product for five years.
Under the terms of the agreement, CMS has committed to purchase a minimum quantity of Bioflor during the contract period. "We are pleased to be working with Biocodex, our first French business partner, and with the addition of Bioflor to our portfolio”, CMS chief executive, Lam Kong said, “This agreement demonstrates our commitment to execute our growth strategy, which is to in-license on an exclusive basis high quality products and further expand our source of revenue."
Bioflor is a probiotic anti-diarrheal product mainly used in the prevention and treatment of diarrhea, a common gastroentrologic disorder found in adults and children. According to Biocodex, the shared strategies of the respective company’s and CMS’ strong sales network proves the best option for the growth of the Bioflor product. “China represents one of the top priorities in Biocodex's international development”, Biocodex International director Nicolas Coudurier said.
Founded in 1953, Biocodex is an independent, family-owned French pharmaceutical company specializing in gastroenterology, pain treatment, neurology and psychiatry.
Disclosure: The author holds no positions in the company