HONG KONG, Nov. 26, 2013 /PRNewswire/ -- Lee's Pharmaceutical Holdings Limited ("Lee's Pharm" or the "Group," Stock Code: 950), an integrated research-driven and market-oriented pharmaceutical group in China, is pleased to announce that the License, Distribution & Supply Agreement ("Agreement") for Zingo® (lidocaine hydrochloride monohydrate) powder intradermal injection system has been executed between Powder Pharmaceuticals, Incorporated ("Powder"), an associated company of the Group, and Marathon Pharmaceuticals, LLC ("Marathon") on 15 November 2013.
According to the Agreement, Marathon is appointed by Powder as the exclusive licensee, distributor, marketer, advertiser, promoter, importer and seller of Zingo® in the United States. The Agreement is effective on 15 November 2013 and will remain in effect until 31 December 2023.
Dr. Benjamin Li, Chief Executive Officer of the Group and Powder, said, "The signing is an affirmation of Zingo®'s market potential. The collaboration with Marathon to market Zingo® in the United States symbolizes a breakthrough for Lee's Pharm to gain access to the largest pharmaceutical market in the world. Looking ahead, Lee's Pharm and its subsudairies will continue to dedicate to the biopharmaceutical technology development and pursue global coorporation with accomplished partners and organizations, striving to expand the reach of its products to other territories beyond China to address unmet medical need."
