Current location:Stellar Stream news portal > style
China's innovative drugs gain momentum in global expansion efforts
Stellar Stream news portal2024-05-18 00:27:12【style】4People have gathered around
Introduction(Xinhua) 16:50, March 18, 2024SHANGHAI, March 18 (Xinhua) -- In November 2023, fruquintinib, a new a
SHANGHAI, March 18 (Xinhua) -- In November 2023, fruquintinib, a new anti-tumor drug developed by Chinese pharmaceutical company HUTCHMED, was approved by the U.S. Food and Drug Administration (FDA) and prescribed in the United States within 48 hours following its approval.
This is the first small-molecule anticancer drug approved in the United States which was developed by a Shanghai pharmaceutical company, and also the first overseas prescription of an innovative drug developed in Shanghai, according to the Science and Technology Commission of Shanghai Municipality.
Fruquintinib, a medicine for the treatment of metastatic colorectal cancer, is among several domestic innovative drugs that were launched in overseas markets in 2023, including Tislelizumab developed by BeiGene and Toripalimab by Junshi Biosciences.
"The year 2023 can be called a milestone year for the overseas launch of domestically produced innovative drugs. Not only did an unprecedented number of drugs go overseas, but also several significant breakthroughs were achieved," said Li Ning, CEO of Junshi Biosciences.
Li added that the increasing share of large molecule drugs, known as biopharmaceuticals, in global markets, as well as the growing number of drugs entering the U.S. market, exemplify these breakthroughs.
The brisk momentum continued into 2024. Chinese pharmaceutical companies forged 18 out-licensing deals in January this year, skyrocketing by 260 percent compared to the same period in 2023.
Chinese innovative drugs have two channels to go global. Some companies independently conduct clinical studies abroad and apply for market approval, eventually gaining authorization to distribute the drugs.
Alternatively, some companies partner with foreign companies to pitch their products overseas, including through out-licensing deals. They sell the rights to commercialize their drugs globally to foreign companies, allowing the latter to take charge of the clinical development, application for market approval, manufacturing and marketing.
Going overseas is no easy task. "The competition for domestically produced innovative drugs to expand overseas is fierce. If you want to penetrate overseas markets, in addition to gaining approval for marketing, you need to achieve commercial success," said Su Weiguo, CEO of HUTCHMED. Under such circumstances, apart from developing high-quality drugs, choosing the right path to enter different markets is crucial, Su added.
In the case of fruquintinib, the drug has chosen to enter a mainstream market with vast demand but meager supply. Su said that the unmet demand of patients in the United States is among the factors contributing to the success of fruquintinib overseas.
"Advanced colorectal cancer is a grave medical challenge. Its global incidence and mortality rates are on the rise, but effective new drugs are not in place. In the United States, the past decade saw not one new drug for treating the disease getting approved," Su said.
Partnering with foreign companies is another path to go overseas, especially for small and medium-sized innovative drug developers. In November 2023, British pharmaceutical company AstraZeneca and Chinese company Eccogene entered into an exclusive license agreement for ECC5004, a glucagon-like peptide 1 receptor agonist discovered by Eccogene for the treatment of obesity, diabetes, and other conditions.
AstraZeneca announced that Shanghai had become the fifth global strategic hub for the company, alongside hubs in the United States, Sweden and Britain, at the 2024 Shanghai Bio-Pharmaceutical Industry International Development Conference held in February.
The British pharmaceutical company also plans to assist 30 Shanghai enterprises to go global in 2024, promoting cross-border cooperation and exchanges in pharmaceutical innovation through two-way visits.
Looking into the future, Chinese innovative drugs can expand beyond the United States and European markets. "We are closely following developments in the Pacific-rim and Indian Ocean-rim markets, and we plan to promote the launch of Chinese innovative drugs in the Republic of Korea (ROK), the Middle East and Southeast Asian countries," Li Ning said.
Address of this article:http://lithuania.popular-vines.com/article-77e399844.html
Very good!(1722)
Related articles
- A Palestinian converted to Judaism. An Israeli soldier saw him as a threat and opened fire
- Donald Trump immunity claim rejected by US court
- China declared malaria
- Green MP Efeso Collins dies during charity run
- Police dismantle pro
- Sagging bridge ‘warning shot’ work needed
- Plane passengers rate their airline breakfasts
- Armed police close Auckland street after reported kidnapping, woman injured
- Indiana judge opens door for new eatery, finding `tacos and burritos are Mexican
- Next generation will pay the price for critical transport projects, councillor warns
Popular articles
Recommended
OnlyFans model Ava Louise who flashed her breasts at the New York
Plane passengers rate their airline breakfasts
Oranga Tamariki IT overhaul leaves social workers without access to some information
Peru protests block access to Machu Picchu, stranding tourists
Closing prices for crude oil, gold and other commodities
Morphine shortage across New Zealand impacting patients in palliative care, new stock months away
King Charles leaves hospital as Kate recovers at home
What to watch: Tales from the Loop
Links
- Body identified as missing man in case that drew attention because officer was charged
- Horrifying moment mother thought her five
- Heartbreaking moment loyal dog desperately chases its owners' car after it was dumped on road
- Fed's preferred inflation gauge shows price pressures stayed elevated last month
- Wade Rousse named new president of Louisiana's McNeese State University
- Microsoft quarterly profit rises 20% as tech giant pushes to get customers using AI products
- Here are 14 players to watch next season across the Southeastern Conference
- A California bill aiming to ban confidentiality agreements when negotiating legislation fails
- Google plans to invest $2 billion to build data center in northeast Indiana, officials say
- USDA tells producers to reduce salmonella in certain frozen chicken products