Fosun built a bio-technology company with joint funds

On December 8th, 2009, Shanghai Fosun New Drug Research Co., Ltd and American Scientist Team formally signed an agreement to build Shanghai Fuhong Hanlin Bio-technology Company devoted to the development and industrialization of monoclonal antibody drug. Fu Jiemin, the head of the technical center of Fosun said that the establishment of Fuhong Hanlin will be a milestone for the innovation in research and development to Fosun.

Monoclonal antibody drugs have the good reputation of biological missile and is the largest category of products in the global bio-pharmaceutical industry. Now it has been successfully applied in treating cancer, diseases in autoimmunity and etc., having a vast development prospect.

Although the global pharmaceutical industry generally holds that strengthening the research and development of biomacromolecule drugs is a strategy which must be taken for accelerating the growth of the company, more than 90% enterprises are still considering development toward traditional chemical medicine and Chinese medicines since the capital and technology required by developing biological medicine exceeds that required by the traditional chemical medicines and since lacking of experienced technical team in development and production has become the major bottleneck for our country to develop bio-pharmaceutical industry.

Faced with the huge capital and complicated technology required by developing biological drugs, Fosun has laid down a rather good foundation and determined the strategy to give priority to developing biological medicines.

The members in American scientist team which cooperated with the company have all occupied important positions in large American bio-pharmaceutical companies and many years experience in bio-pharmaceutical industry including the upstream antibody research projects, middlestream cell cultivation and downstream protein purification, experience in whole-process analysis method development and demonstration, quality inspection and management experience and has the ability to develop antibody drugs with high quality but low cost.

This time of cooperation with overseas scientists in monoclonal antibody is the result of mutual advantage complementation. In the way of establishing a joint-venture, Fosun will possess more advanced American biological medicine research, development and production technology. Of course, whether it can stand out from the research and development of numerous similar types of products depends on high technology, low cost, high speed and marketing plus nationalization ability in the end.