Medigus, an endosurgical medical device company, has extended its 2013 exclusive distribution agreement with Chinese pharmaceutical company Sinopharm.
The agreement grants Sinopharm exclusive rights to distribute the MUSE system in China.
With the agreement renewal, Sinopharm has been granted up to two years to gain all necessary regulatory approval and two to four years exclusivity rights following regulatory approvals.
As a part of the agreement, Sinopharm will purchase a minimum of $17.6 million of MUSE and related projects within four years of regulatory approval.