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US drug maker to launch 5 new products in China
By Ding Yining |
July 2, 2013, Tuesday
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Online Edition
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US drug maker Bristol-Myers Squibb said it is on track to launch at least five new products in the next two years to drive sales, especially in the biopharmaceutical sector.
The pharmaceutical company said today it has expanded its partnership with Nanjing-based Simcere Pharmaceutical Group to engage in the commercialization of a biopharmaceutical drug to treat arthritis.
Last year, the new drug, called Orencia, recorded sales of US$1.2 billion yuan in the United States, Europe and Japan, and the key product of BMS is expected to be brought into the Chinese market through collaboration of the two parties.
Simcere will be responsible for the research and development of the new drug in China, which is scheduled to hit the market in 2018, and the two parties will combine each other's resources and know-how to go through regulatory approvals.
It marks the third project with Simcere since 2010. The previous two involved R&D and clinical trials of early-stage products.
"It signals the successful and fruitful partnership with Simcere on the previous two projects," said Ren Jinsheng, chairman of Simcere Pharmaceutical.
BMS said last year it expected sales from innovative compounds to make up about 90 percent of sales in China within six years compared with 40 percent in 2011.
The pharmaceutical company said today it has expanded its partnership with Nanjing-based Simcere Pharmaceutical Group to engage in the commercialization of a biopharmaceutical drug to treat arthritis.
Last year, the new drug, called Orencia, recorded sales of US$1.2 billion yuan in the United States, Europe and Japan, and the key product of BMS is expected to be brought into the Chinese market through collaboration of the two parties.
Simcere will be responsible for the research and development of the new drug in China, which is scheduled to hit the market in 2018, and the two parties will combine each other's resources and know-how to go through regulatory approvals.
It marks the third project with Simcere since 2010. The previous two involved R&D and clinical trials of early-stage products.
"It signals the successful and fruitful partnership with Simcere on the previous two projects," said Ren Jinsheng, chairman of Simcere Pharmaceutical.
BMS said last year it expected sales from innovative compounds to make up about 90 percent of sales in China within six years compared with 40 percent in 2011.
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