July 10, 2020 / 9:29 PM / a month ago

BRIEF-Fibrogen Says On July 8, Units And Astrazeneca Entered Into An Amendment To Amended And Restated License, Development And Commercialization Agreement

July 10 (Reuters) - Fibrogen Inc:

* FIBROGEN - ON JULY 8, UNITS AND ASTRAZENECA ENTERED INTO AN AMENDMENT TO AMENDED AND RESTATED LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT

* FIBROGEN - AMENDMENT PROVIDES FOR CREATION OF JOINTLY OWNED ENTITY TO PERFORM ROXADUSTAT DISTRIBUTION, CONDUCT SALES, MARKETING THROUGH ASTRAZENECA

* FIBROGEN INC - FIBROGEN BEIJING WILL CONTINUE TO HOLD ALL OF REGULATORY LICENSES ISSUED BY CHINA REGULATORY AUTHORITIES

* FIBROGEN - FIBROGEN BEIJING TO CONTINUE TO BE MAINLY RESPONSIBLE FOR REGULATORY, CLINICAL, MANUFACTURING, MEDICAL AFFAIRS, PHARMACOVIGILANCE.

* FIBROGEN INC - PARTIES WILL CONTINUE TO SHARE EQUALLY IN ECONOMICS RESULTING FROM ROXADUSTAT OPERATIONS IN CHINA

* FIBROGEN INC - WITH EFFECT FROM APRIL 1, PARTIES HAVE CHANGED METHOD UNDER WHICH COMMERCIAL EXPENSES ARE BILLED

* FIBROGEN - FIBROGEN BEIJING WILL NOW MANUFACTURE & SUPPLY COMMERCIAL PRODUCT TO JV, AT A PERCENTAGE OF NET SALES & SUCH PERCENTAGE WILL BE SUBJECT TO A CAP.

* FIBROGEN - ASTRAZENECA’S SALES, MARKETING COSTS BILLED TO JV ARE NOW SUBJECT TO ANNUAL CAP AT PERCENTAGE OF NET SALES

* FIBROGEN INC - ONCE DISTRIBUTION ENTITY IS FULLY OPERATIONAL, TO RECOGNIZE REVENUE BASED ON ITS SALES TO DISTRIBUTION ENTITY

* FIBROGEN INC - ASTRAZENECA IS EXPECTED TO CONSOLIDATE DISTRIBUTION ENTITY, AND RECOGNIZE REVENUE BASED ON SALES TO CUSTOMERS

* FIBROGEN INC - DEVELOPMENT COSTS WILL CONTINUE TO BE SHARED 50/50 BETWEEN PARTIES Source text: [bit.ly/2Og0TnL] Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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