Cellestis firms up Japanese deal
Monday, 20 October, 2003
Diagnostic company Cellestis has completed an amendment to its distribution agreement with Japanese company Nichirei, covering price and minimum volumes for its second generation TB test QuantiFERON-TB GOLD.
Cellestis managing director Dr Tony Radford said in a statement that subject to approval of the test for sale in Japan, the amended agreement has a minimum product purchase requirement in excess of AUD$2 million during the first 2 years post-approval. The company hoped its agreement with Nichirei would help it exceed its minimum volume targets, he said.
Nichirei and Cellestis submitted an application for approval to the Japanese regulatory authorities in May this year, but approval is not expected before May 2004 at the earliest.
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