Response Biomedical has expanded the scope of its agreement with Shanghai Elite Biotech for RAMP cardiovascular product portfolio.
As part of the deal, Shanghai Elite will exclusively distribute Response’s RAMP branded cardiovascular Point of Care Testing (POCT) portfolio in China.
Response Biomedical interim CEO Dr Anthony Holler said: "Response and Shanghai Elite initially entered into a distribution agreement for certain provinces in Eastern and Southern China in the fourth quarter of 2013."
Response Biomedical CEO Dr Barbara Kinnaird said: "Response owns our own regulatory clearances in China and has an established regional office in Shanghai, which allows us to decisively and effectively manage our China distribution channels, thereby enabling us to better ensure that our distributors are satisfactorily meeting both their contractual sales commitments, and our growth expectations."
Shanghai Elite will exclusively hold the distribution rights for Response’s RAMP branded cardiovascular (POCT) portfolilo in China, excluding Taiwan, Hong Kong and Macao Special Administration Region, under the terms of the amendment to the Shanghai Elite distribution agreement.
Response will provide marketing support to Shanghai Elite, while product pricing levels and exclusive sales territories are contingent upon the achievement of certain sales minimums.