Lucrative China deal for Scottish biotech firm

A SCOTTISH biotech company has signed a ten-year deal with China's largest distributors of pharmaceuticals and medical devices.

Fife-based Burdica Biomed said the tie-up with Sinopharm could be worth "tens of millions of pounds" in trade.

Sinopharm will guide Burdica's products through China's regulatory compliance process and then distribute the products, with the Scots firm providing marketing.

Kevin Burd, founder and chief executive of Burdica, said: "This is an enormously significant milestone for us. We anticipate the regulatory process in China will take 12 to 18 months to complete.

"Thereafter, the sales projections we have developed jointly with Sinopharm indicate total revenues in the higher reaches of the tens of millions sterling range over our ten-year distribution agreement with them."

Burd said he had previously helped Sinopharm secure agreements with other European and American healthcare firms.

Burdica was set up in 2007 to develop therapeutic applications of hyaluronic acid (HA), found between cells in various body tissue. HA is a natural source of moisture and lubrication.

Last year, Burdica launched its Zestic range, which uses HA to improve the mobility of sperm.

Another product in the range is used to alleviate dryness experienced by some women during and after menopause.

Sinopharm has about 3,500 staff and 12 per cent of the Chinese market for pharmaceutical products and medical devices.