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Fosun Pharma Secures $60 Million Option for Alzheimer's Drug

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Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196) subsidiary Fosun Pharma Industrial signed an exclusive option agreement with South Korea's AriBio for AR1001, an oral drug candidate for early Alzheimer's disease.

The unit will pay a $60 million option fee and can exercise the license within 90 days after receiving topline data from an ongoing global Phase III trial.

If exercised, Fosun Pharma Industrial will pay up to $180 million in upfront and regulatory milestones, plus tiered royalties.

Shares of Shanghai Fosun Pharmaceutical were down 1% in recent trade on the Shanghai and Hong Kong bourses.

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