Shijiazhuang Pharmaceutical Group Enters Oncology Drug Market With Acquisition
This article was originally published in PharmAsia News
Executive Summary
Shijiazhuang Pharmaceutical Group and Dalian Yuanda Pharmaceutical have signed a wide-ranging agreement under which Shijiazhuang Pharmaceutical Group will invest RMB 200 million, and both companies will jointly develop the local market for Yuanda's leading anti-tumor drug Elemene. The two firms will conduct clinical trials of Elemene emulsion injection in China and the U.S., and will also launch new drugs. Elemene injection is the only State FDA-approved drug for treating intracranial tumors, while Elemene emulsion injection is slated for U.S. clinical trials next year. Yuanda will become a subsidiary of SPG and undergo a name change to align with the group. SPG has identified anti-tumor drugs as one of its key development areas and the collaboration marks its entry into the anti-tumor patented drug market. (Click here for more - Chinese Language)