China Pharma Holdings (CPHI) has released an update to notify the public and investors about an entry into a material definitive agreement.
China Pharma Holdings’ subsidiary Helpson has acquired an invention patent for a psoriasis treatment from inventor Lihua Li for $1.50 million in company stock. The deal includes additional technical services from the Transferor and a decade-long profit-sharing arrangement where Helpson will pay 10% of annual net profits from the product to the Transferor, conditional upon the product’s profitability.
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For a comprehensive understanding of the announcement, you can read the full document here.