[29 October 2017, Hong Kong] On October 28, Shanghai Fosun Pharmaceutical (Group) Co.,Ltd. (referred to as “Fosun Pharma”) (stock code: 600196.SH, 02196.HK) announced that, its subsidiary, Shanghai Fosun Pharmaceutical Industry Development Co., Ltd.  received a letter from the US Food and Drug Administration (referred to as "US FDA") agreeing to clinical trials for the new drug FN-1501 used for treatment of leukaemia.   

The new drug FN-1501 is used for treatment of leukaemia. Previously, Fosun Pharma’s R & D platform - Shanghai Shino-tech Pharmaceutical Co., Ltd. had submitted to China Food and Drug Administration an application for clinical trials of the new drug FN-1501 for leukaemia in China (excluding Hong Kong, Macau and Taiwan), and the application was accepted in August 2017. 

At present, no drug has been offered in China that possesses independent intellectual property rights and shares the same target with the FN-1501; whereas a new drug sharing the same target was offered in the US for the first time in 2017. As of September 2017, Fosun Pharma at this stage has invested about RMB 23.5 million in research and development of FN-1501.   

Fosun Pharma always takes independent innovation as the source power for enterprise development, and has been continuously improving the drug R&D innovation system of "combining generic drugs with innovative drugs". In recent years, the company continues to increase R&D investment and has developed internationalized R&D structure and strong R&D capabilities.