The Rising Influence of Rising Affluence

[DewDiligence]

RVNC—RT002 deal with Fosun Pharma for Greater China*:

https://finance.yahoo.com/news/revance-announces-china-market-license-130600943.html

$30M up-front; $230M in potential milestone payments; tiered royalty on sales with rate ranging from “low double-digit to high-teen.”

China is a fast-growth market for botulinum toxin products generally, but there are several knockoff brands competing for share. Hence, Fosun will have to work hard to make RT002 all it can be in this market.

A key component of this deal: RVNC’s retains all manufacturing rights and there is no transfer of IP.

*Includes Hong Kong and Macao.