SciGen Limited (SIE) announced today that the company has secured the health registration and marketing authorization for the sale and distribution of SciGen’s recombinant human Insulin, SciLin, throughout the People Republic of China.
The long awaited health registration will allow SciGen distributor Shenzhen Meheco and Hefei Life Sciences technology (HLST) to engage in promotional activities thru other distribution partners in China to ensure in-depth coverage in all Chinese provinces. The agreement requires Shenzhen Meheco & HSLT to sell SciGen’s recombinant human insulin on an exclusive basis during the 7 year term. Sales are expected to begin in the second quarter of this year.
In China, SciGen expects to generate sales revenues of US$17 million dollars over the next three years with its recombinant human Insulin. The agreement with Shenzhen Meheco / HSLT, containing minimum order provisions, forms the basis of SciGen expectations.