The deal grants CY Biotech with exclusive development and marketing rights for its anti-obesity agent lorcaserin in China
Japan-based Eisai recently announced that it has entered into an agreement to grant exclusive development and marketing rights for its anti-obesity agent lorcaserin hydrochloride (generic name, product name in the United States: BELVIQ, product name for once-daily formulation in the United States: BELVIQ XR, “lorcaserin”) in China (including Hong Kong and Macao) to CY Biotech (Headquarters: Taipei, Taiwan, “CYB”).
Under this agreement, Eisai will supply CYB with lorcaserin. Eisai will receive a one-time contractual payment and milestone payments dependent upon acquisition of regulatory approval. In addition, Eisai has the option rights to co-promote lorcaserin with CYB in China (excluding Hong Kong and Macao), as well as the option rights to market lorcaserin in Hong Kong and Macao.
Lorcaserin is a novel chemical entity that is believed to decrease food consumption and promote satiety by selectively activating serotonin 2C receptors in the brain. Lorcaserin was approved in June 2012 by the U.S. Food and Drug Administration (FDA) as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index (BMI) of 30 kg/m2 or greater (obese) or 27 kg/m2 or greater (overweight) in the presence of at least one weight-related co-morbid condition, and was launched in the United States in June 2013. Lorcaserin was approved in Mexico in July 2016 and in Brazil in December 2016, with the same indication as for the United States. In Taiwan, lorcaserin was developed by CYB, who obtained approval in July 2017 and launched lorcaserin in Taiwan in October 2017.
By entering into this agreement with CYB, which already has a track record in developing and marketing lorcaserin in Taiwan, Eisai is aiming to accelerate the delivery of lorcaserin to patients in these regions.
CY Biotech Company is a pharmaceutical company established in April 2011 with its headquarters in Taiwan. In 2012, CYB launched a wholly-owned subsidiary Chuang Yi Trading Limited in Shanghai. CYB obtained the exclusive rights for marketing and distributing lorcaserin in Taiwan and has been marketing lorcaserin in Taiwan since 2017. Aiming to be an innovative leader in self-paid pharmaceutical and health products with a wide range of indications, CYB is striving to improve the Quality of Life (QOL) of patients in Greater China.