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Bristol-Myers signs over anti-cancer compound rights in China to Simcere Pharmaceutical

Published: 19:00 03 Nov 2010 GMT

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Global biopharmaceutical company Bristol-Myers Squibb (NYSE: BMY) has given China-based Simcere Pharmaceutical (NYSE: SCR) the rights to develop preclincal compound BMS-817378, a drug targeted for the treatment of advanced cancers, in its home country.

Under the terms of the agreement, Bristol-Myers Squibb will retain the rights in all other markets. Both parties have yet to determine the development plan, which will initially be performed by Simcere. The first-in-human studies will be conducted in China.

Bristol-Myers said the partnership between the two companies is an entirely new approach to devleoping its early-stage pipeline.

Simcere manufactures and sells anti-infective medication, anti-cancer medication and stroke management medication.

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