Fosun Pharma’s Subsidiary Drug Application Accepted

Shanghai Fosun Pharmaceutical (Group) Co (HK:2196) has released an update.

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. has announced that its subsidiary Jinzhou Avanc Pharmaceutical Company Limited’s new drug application for treating mild to moderate acute ischemic stroke has been accepted by the National Medical Products Administration. The drug, licensed from Chengdu Shibekang Biopharmaceutical Technology Co., Ltd., has seen an investment of around RMB 13.21 million by the Group in its research and development. This move potentially taps into a market where similar drugs have shown significant sales in China, according to IQVIA CHPA 2023 data.

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