Wockhardt Bio AG, a subsidiary of the company, and Jiangxi Jemincare Group Company Ltd, China have partnered for Wockhardt’s novel patented antibiotic WCK 4873 (Nafithromycin) for the treatment of community-acquired bacterial pneumonia and other respiratory tract infections, Wockhardt said in a regulatory filing.
Under the terms of the definitive agreement, Jemincare will be responsible for exclusive development and commercialisation of the Nafithromycin in the select markets, it added.
“Wockhardt will receive an upfront payment and will be eligible for regulatory-linked milestone payments. Further, Wockhardt would supply the product to Jemincare and will receive royalties on net sales. Wockhardt would transfer the manufacturing technology to Jemincare at mutually agreed time,” the filing said.
Wockhardt will continue to develop Nafithromycin for other markets including India where Phase III clinical study is ongoing, it added.
On the development, Wockhardt Group Founder Chairman Habil Khorakiwala said Wockhardt has been at the forefront in the fight against Anti-Microbial Resistance (AMR) which has been identified as one of the top threats by WHO.
“Our novel drug discovery program of around 20 years has yielded a rich pipeline of products which are at different stages of commercialisation. This arrangement upholds our commitment in the fight against AMR,” he added.
Shares of Wockhardt were trading at Rs 430.40 per scrip on BSE, down 1.42 percent from its previous close.