Distribution Agreement to market Somatostatin 2005.06.15

 
(Hong Kong, 15 June 2005) - Lee's Pharmaceutical Holdings Limited (GEM) Stock: 8221; Website: www.leespharm.com) announced today that the Group has signed an Agreement with GP-Pharm S.A., Spain for the distribution and marketing of Somonal®~Somatostatin 3mg ampoules, throughout Hong Kong and the People's Republic of China.

Somatostatin was first discovered in hypothalamic extracts and identified as a hormone that inhibited secretion of growth hormone. Subsequently, Somatostatin was found to be secreted by a broad range of tissues, including pancreas, intestinal tract and regions of the central nervous system outside the hypothalamus. Somonal® consists of Somatostatin freeze dried ampoules containing 3 mg of the active substance for dissolution purpose, is indicated for used clinically to treat carcinoid syndrome, enterocutaneous and pancreatic fistula, VIPomas, glucagonomas, severe esophageal varices bleeding.

Somatostatin is widely prescribed in China for acute variceal bleeding. Due to the high prevalence of HBV infection, China has a relatively high number of people suffered from cirrhosis and the subsequent acute esophageal varices bleeding caused by portal vein hypertension. The market for product like Somatostatin in China is quite attractive.

"We're extremely pleased to establish this distribution partnership with GP-Pharm S.A.,," stated Dr. Benjamin Li, the Chief Executive Officer of the Group. "This is the seventh product so far we have licensed-in for distribution in China from our partners in Italy and Spain. This product will allow the Group to enter into a new therapeutic area." The Group believe that successful implementation of this strategy will further expand its market shares, enrich its product pipeline and to broaden its revenue base.

About GP-Pharm

GP-Pharm P.A. is a pharmaceutical company based in Spain within the Lipotec Group whose foundation dates back from 2001. The company is undertaking the pharmaceutical and the clinical development of new products containing hormones and Cytotoxic drugs.

About Lee's

Lee's Pharmaceutical Group, as a research-driven and market-oriented biopharmaceutical group, is actively pursuing for developing proprietary products and licensing technology/product from overseas prestigious biopharmaceutical institutions and companies.

Safe Harbor Statement

The statements in this news release, other than the historical financial information, may contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ from anticipated results. Further information on risk factor that could affect, among other things, Lee's financial condition and results of operations is detailed in Lee's IPO prospectus, as filed with the Growth Enterprise Market of the Stock Exchange of Hong Kong Limited.

For further information, please contact:
Vivian Fung
Tel: (852)2314-1282
Fax: (852)2314-1708
Email: info@leespharm.com
 


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