Fosun Pharma Speed Up Its Pace to Industrialization

On July 15, 2010, Fosun Pharma declared to begin a new round of strategic cooperation with Chemo Group (Chemway), an international pharmaceutical enterprise. In terms of the agreement, the two parties, the two parties will jointly invest RMB 500 million in estimated on a project of monoclonal antibody drugs through the basic platform of joint venture - Shanghai Chemo Wanbang Biopharma Co., Ltd..

Chemo Group values much the potentiality of Chinese market. Prior to this cooperation, in 2008 the two parties have already set up a joint venture in Shanghai - Shanghai Chemo Wanbang Biopharma Co. Ltd. (It is also called Chemo Biopharma for short). 70% shares of Chemo Biopharma are controlled by Fosun Pharma while the other 30% are controlled by Chemo Group. Chemo Biopharma commits herself to the biological pharmaceutical field, especially to R&D as well as manufacture of antineoplastic drugs.

Monoclonal antibody drugs, known as Biological Missile , have been applied successfully in cancer therapy, autoimmune diseases and so on. It is one of the most important biological drug fields to develop. Currently, the global sales amount of monoclonal antibody drugs have already been over 40 billion US dollars which has been growing fast by an annual rate of over 20%.

Among them, 5 monoclonal antibody drugs global sales amount has even been over 4 billion US dollars. Therefore, Fosun Pharma cooperated with American Scientists Group to set up a R&D platform for monoclonal antibody drugs in Shanghai at the end of 2009 that is Shanghai Henlius Biotech Co., Ltd. Fosun Pharma 74% shares Henlius Biotech which have already built laboratories respectively in Shanghai of China and San Francisco of USA.

During the past two years, Fosun Pharma has marched rapidly into biological pharmacy field to enhance the company s further developing potentiality. Shine Star (Hubei) Engineering Co., Ltd, a subsidiary enterprise of Fosun, has already been a leading manufacturer of Amino Acid in China while Wanbang Pharmacy has enjoyed a high reputation in the domestic diabetes subdivision markets and its product, animal insulin, has been listed in National Essential Drugs List. By 2010, Fosun Pharma has finished its targeted additional share offering, and the raise d funds are invest on Wanbang Pharmacy for the projects of recombinant human insulin API and injection.