Hualing Pharmaceuticals (02552.HK) announced that its wholly-owned subsidiary, Hualing Shanghai, has sent a written notice to Bayer expressing its intention to transition the commercialization responsibility of the company's innovative glucokinase activator for type 2 diabetes, Dorzagliatin (tablet), to the company in China starting from January 1st next year.

On August 17, 2020, the relevant parties established a cooperation relationship on the commercialization of Dorzagliatin in China and entered into a related exclusive promotion service agreement. Bayer obtained the exclusive commercialization rights of Dorzagliatin in China. To facilitate the transition, the company has the right and plans to terminate the agreement starting from January 1st next year. From the present until the effective termination date, Bayer and the company will continue to fulfill their obligations under the agreement and commit to initiating a friendly, patient-centered transition plan. In order to support the continued commercial sales of Dorzagliatin in China, the company may seek other potential partners to commercialize Dorzagliatin in China.