Haisco Pharmaceutical Group Co., Ltd. (Ticker Code: 002653) announced that it has entered into an exclusive licensing agreement with AbbVie (NYSE: ABBV), a global biopharmaceutical company. Under the agreement, Haisco grants AbbVie the exclusive rights to develop, manufacture, and commercialize novel medicines for the treatment of pain globally, excluding mainland China, Hong Kong, and Macau.

The program includes multiple compounds designed to address pain-related indications. These compounds are currently at various development stages in China, ranging from preclinical to Phase 1 clinical development.

"This collaboration is highly aligned with our international development strategy and is expected to generate sustainable value and long-term returns," said Dr. Pangke Yan, chief executive officer of Haisco. "By partnering with a global biopharmaceutical leader such as AbbVie, Haisco aims to accelerate the global development of innovative pain therapies and deliver high-quality treatment options to patients worldwide."

The collaboration strengthens Haisco's global presence and pipeline by leveraging AbbVie's development and commercialization capabilities, as well as its recognized expertise in neuroscience.

Haisco will receive an upfront payment of USD $30 million and is eligible to receive up to USD $715 million in aggregate development, regulatory, and commercial milestone payments. In addition, Haisco is eligible to receive tiered royalties on future net sales.