May 18, 2016, Fosun Pharma announced that Canagliflozin and its APIs (hereinafter collectively referred to as "new drugs 1") developed by Chongqing Pharmaceutical Research Institute Co., Ltd. (CPRI) , a controlling subsidiary of Fosun Pharma, and Tofacitinib citrate tablet and its API (hereinafter collectively referred to as "new drugs 2") co-developed by Jiangsu Wanbang Biopharmaceuticals Co., Ltd., another controlling subsidiary of Fosun Pharma, and Chongqing Pharmaceutical Research Institute had passed the clinical trials for drug approval of CFDA.

The two new drugs are both independently developed by Fosun Pharma Group and categorized under type 3 of chemical drugs. As a sodium-glucose co-transporter 2 inhibitor, new drugs 1, with the combination of diet and exercise, is used for improving glycemic control in adult patients with typeⅡdiabetes while new drugs 2 applies to adult patients with moderately-to severely-active rheumatoid arthritis who have inadequate response or intolerant to methotrexate. As of April 2016, Chongqing Pharmaceutical Research Institute invested approximately RMB 8.5 million in the R&D on new drugs 1 at this stage and Fosun Pharma invested approximately RMB5.6 million in the R&D on new drugs 2 at this stage.

It is reported that there is currently no Canagliflozin or Tofacitinib available in China (excluding Hong Kong, Macao and Taiwan). According to information provided by IMS Health, a world-leading provider of business intelligence and strategic consulting services for the pharmaceutical and healthcare industry, the sales of Canagliflozin and Tofacitinib in the global market amounted to US$1.747 billion and US$563 million respectively in 2015. Relevant risks were also indicated in the announcement of Fosun Pharma. As provided under the regulations with respect to the research and development of new drugs in China, the launch of these two drugs are subject to a series of clinical research and the approval from the national authority for drug evaluation.

Fosun Pharma always regards independent innovation as essential to its corporate development and continuously optimizes its pharmaceutical R&D system that integrates imitation and manufacture. In recent years, Fosun Pharma has been increasing investment in R&D and gained competitive edge in internationalized R&D capability. Up to now, the company has a staff of nearly 900 in its R&D team, spreading over Shanghai, Chongqing, Taiwan and San Francisco, forming a systematic research system by interacting and integrating with each other. The company continues to raise investment in its four major platforms, aiming to establish highly-effective R&D platforms covering small-molecular drugs, large-molecule biosimilars, high-value generic drugs and specialized pharmaceutical technology.  

~ End ~

About Shanghai Fosun Pharmaceutical (Group) Co.,Ltd.

Established in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”; stock code: 600196.SH, 02196.HK) is a leading healthcare Group in the PRC. Fosun Pharma strategically covers important segments of the healthcare industry value-chain, including research and development, pharmaceutical manufacturing, medical diagnosis, medical devices, pharmaceutical distribution and retail, and healthcare services, making contribution to improving public health. Fosun Pharma maintains a National Recognized Enterprise Technology Centre and a highly capable international R&D team, focusing on innovation and research of therapeutic areas including cardiovascular system, metabolism and digestive tract system, central nervous system, blood system, anti-tumor and anti-infection diseases. With its commitment to innovation for good health and creating a better future, Fosun Pharma will continue insisting on the strategic development approach of “organic growth with external expansion and integrated business operation”. The Company strives to be one of the first-class enterprises in the global healthcare market.