Salvat, Lee's Pharmaceutical partner to market Duoxal ear drops in Greater China

Laboratorios SALVAT, S.A. (hereinafter "Salvat") and Lee's Pharmaceutical (HK) Limited, a wholly-owned subsidiary of Lee's Pharmaceutical Holdings Limited ("Lee's Pharm", SEHK Stock Code: 0950), jointly announced today the signing of an exclusive License and Supply Agreement for the marketing and distribution of Duoxal^® ear drops (patented combination solution of Ciprofloxacin and Fluocinolone Acetonide) in the People's Republic of China, Hong Kong S.A.R., Macau S.A.R., and Taiwan and an option to add Thailand to the contractual territory.

Duoxal^® ear drops is a prescription medicine used to treat acute otitis media in patients with tympanostomy tubes ("AOMT") and acute otitis externa (swimmer's ear) in adults and children older than 6 months of age.

"We are pleased to enter into a partnership with Lee's Pharm, a company that complements our development capabilities with a deep knowledge of Greater China," said Alberto Bueno, Chief Executive Officer of Salvat. "This long-term collaboration is a major milestone for Salvat, as we continue to grow our presence in international markets and to expand the Duoxal^® footprint across multiple territories."

"We are extremely excited about entering into an exclusive partnership with Salvat to register and market Duoxal^® in our territory," said Dr. Li Xiaoyi, Chief Executive Officer and Executive Director of Lee's Pharm. "We believe that, as a novel combination product, Duoxal^® can address the medical needs of those patients suffering from ear infections. We're looking forward to collaborating closely with Salvat to initiate the drug registration process."