fosun pharma receives china food and drug administration approval for clinical trials of new medicine for treatment of leukemia
recently, shanghai fosun pharmaceutical industry development co., ltd., a holding subsidiary of shanghai fosun pharmaceutical (group) co., ltd. ("fosun pharma” sh.600196, hk.02196) and shanghai fosun shino-tech pharmaceutical co., ltd., one of the research and development (r&d) platforms of fosun pharma, received approval from the china food and drug administration (“cfda”) for clinical trials of its injectable fn-1501 ("new medicine").
the new medicine is a micromolecule chemistry innovative drug that is researched by fosun pharma after transferred from china pharmaceutical university, which is mainly used for the treatment of leukemia. the new medicine received cfda approval for clinical trials and registration in august 2017, and it obtained us food and drug administration (“fda”) approval for clinical trials in october 2017.
until january 16th, 2018, there is no medicine with independent intellectual property right launched in china (excluding hong kong, macau and taiwan) with the same targeted therapy as the new medicine. the medicine with the same targeted therapy was first introduced to the us market in 2017. until december 2017, fosun pharma invested approximately rmb 31 million on r&d for the new medicine.
fosun pharma always regards innovation as the driving force for its business growth and continuously optimizes its pharmaceutical r&d system that integrates biosimilars and innovative drugs. in recent years, fosun pharma has been continuing to increase r&d investment and has formed an international layout for r&d with relative strong capabilities.