BEIJING—BUSINESS WIRE-Sinovac Biotech Ltd. (NASDAQ: SVA) («Sinovac» or «the company»), a leading supplier of biopharmaceutical products in China, announced today that it has signed two agreements in Hainan, China, with PT Bio Farma, a leading biopharmaceutical company in Indonesia, for the supply, local production and technology license for coronavac Indonesian Foreign Minister S.E. Retno LP Marsudi and Indonesian Minister of State Enterprise, S.E. Erick Thohir, attended the signing of the two agreements. [«Bioprospectrion Agreement» refers to the written agreement between the [transferor] and the [transfer] titled «O» and is executed on — and a copy of that agreement is attached to this agreement.] 3. Ensure that the conditions set out in a bioprospecting agreement with a supplying party or party apply to (i) any party entitled to its rights under the agreement and (ii) to any party receiving a sample of a genetic resource collected from it, unless those parties have obtained the right to obtain such samples from the genetic resources collected, regardless of the party or party providing. 12) «informed prior consent,» an agreement between a BIO member and a supplying party, establishing that the BIO member provided the providing party with information that met the requirements of Section III of these guidelines regarding a regulated genetic resource to which the BIO member had access. The model provides that specific benefits, benefit allocation conditions and the date on which these benefits are to be granted are indicated in this section (for example. B immediate payment of a fee, payment of a fixed fee for the use of the material in a research or experimentation environment). This section may also include the obligation to negotiate the terms of the distribution of benefits until a certain time in the future. Point (i) may be a specific date, (ii) a date on which certain types of research activities are carried out on the transferred material; or (iii) a date on which a commercial product has been identified and is prepared for commercial production and marketing.
It is generally not advisable to postpone benefit allocation negotiations to future dates, as there may be no agreement on such benefit-sharing conditions in order to disrupt the start of commercial marketing and/or the assessment of materials may be distorted. Where possible, materials should be identified by the transferor or transferors. In addition, the buyer should cooperate with the ceding company in order to develop an agreed-upon means of identifying and describing the materials.