Fosun Pharmaceutical announced that Fuhong Hanlin, a holding subsidiary of the company, and Sandoz AG have signed a “Cooperation Framework Agreement” to carry out overseas licensing cooperation for up to 10 monoclonal antibodies and/or antibody-conjugated drug biosimilar products or ingredients, and have reached specific commercial terms for the first 3 cooperative products. Sandoz AG will pay a down payment of up to US$237 million, development milestones and development budget milestones for the first 3 products, and a sales milestone of up to 77 million US dollars and a sales share based on net profit sales or 40% sales share based on net profit sales . Additionally, Sandoz AG has paid an option fee of $8 million for a potential partner product.

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