Fosun Pharma to Develop Monoclonal Antibody Drugs
Year:2010 ISSUE:15
Click:339    DateTime:Nov.02,2010
Fosun Pharma to Develop Monoclonal Antibody Drugs   

Shanghai Fosun Pharmaceutical (Group) Co Ltd (Fosun Pharma, SH: 600196) announced on July 15th that it will began a new round cooperation with Spanish company Chemo Group, co-investing RMB500 million in their 70:30 joint venture Shanghai Chemo Wanbang Biopharma Co Ltd to construct monoclonal antibody drugs. The joint venture was built in 2008, majored in the biopharmaceutical manufacturing business, particular in R&D, production of anti cancer drugs. After completion of this round investment, Fosun Pharma's equity in Shanghai Chemo Wanbang Biopharma Co Ltd will drop to 60% and Chemo Group will hold 40%.
   Chemo Group owns R&D centers, production sites and sale network worldwide, covering Europe, Asia and Latin America. Fosun Pharma expects to develop international market with aid of Chemo's network.
   This cooperation will lead to the introduction of four antibody drugs into Chinese market. Construction will be completed in four years.
   Fosun Pharma predicted that the world total sales of monoclonal antibody drugs has already exceeded US$40 billion at present, and will grow more than 20% per year.