China Grand Pharmaceutical and Healthcare Holdings Ltd. entered into a licensing agreement with Biohit Oyj in relation to the provision of right from Biohit to Grand Pharm (China) to use the intellectual property rights and know-how of Biohit to exclusively manufacture and distribute the acetaldehyde binding products developed by Biohit in China. Grand Pharm (China) has expressed its interest to co-operate with Biohit, and is prepared to commercialize the innovative acetaldehyde binding products to the market in China subject to further negotiation and agreements with Biohit.