HISUN Signs Partnership Agreement with Alpharma

On June 8, HISUN signed an agreement with Alpharma for preliminary cooperation on the production of Vancomycin. As agreed, Alpharma would provide US$10 million of capital for HISUN to help its subsidiary purchase extraction equipment; freeze-dry equipment and regulatory documents relating to Vancomycin with an annual production of 30 tons.

Upon the commencement of the agreement, Alpahrm will pay service charge and license fee to Hisun based on the actual quantity of Vancomycin produced annually; all other expenses are paid on a reimbursement basis. HISUN would also retain the international and domestic markets for Vancomycin finished products.