re: strong close coming***10cents gone***
For those that missed the action today and want to know what all the fuss was about...Pol
Monday October 10, 11:36 AM Scigen Announces $US145MLN China Distribution Deal SYDNEY, Oct 10 Asia Pulse - Shares in SciGen Ltd (ASX:SIE) have more than doubled after the biopharmaceutical company announced a $US145 million-plus distribution deal into China for its Hepatitis-B vaccine, its first foray into the country.
The Singapore-based company, listed on the Australian Stock Exchange (ASX), has signed a non-exclusive agreement with the China-based Hefei Life Science Park Investment and Development Company (HID).
Under the commercialisation deal, HID has committed to order and pay for SciGen's Hepatitis-B vaccine - Sci-B-Vac - in either bulk antigen or dispensed dose form for the next seven years.
SciGen expects this to generate revenue of at least $US210 million if the vaccine is distributed in dispensed doses over that period, or $US145 million, if in bulk antigen, essentially the raw material.
At 1249 AEST, shares in SciGen had gained 5.2 cents to 9.8 cents.
SciGen chief executive Saul Mashaal said the deal was significant for the company, which will still be able to sell the product through other distributors in China.
"The sales targets to which HID has agreed are substantive, yet the agreement allows SciGen considerable control over the future of Sci-B-Vac sales and marketing in China," Mr Mashaal said.
