FAST NEWS: Simcere gets exclusive rights to innovative influenza drug
The latest: Simcere Pharmaceutical Group Ltd. (2096.HK) announced Tuesday that it has signed a deal giving it exclusive commercialization rights for treatment of influenza indications using the innovative drug ADC189 from Jiaxing AnDiCon Biotech Co. Ltd.
Looking up: Simcere believes the cooperation will further strengthen its product portfolio in the anti-infective area.
Take Note: Third phase clinical trials for ADC189 are still in progress, meaning it could still require some time before the drug can be commercialized.
Digging Deeper: Founded in 1995, Simcere develops, makes and sells oncology and cardiovascular drugs. The company was listed in the U.S. in 2007, but delisted in 2013, before re-listing in Hong Kong in 2020. It had six drugs on the market at the end of June and more than 60 others in its pipeline. Among them, the Covid oral drug Xiannuoxin was conditionally approved for sale in China in January, but lacked high expectations after missing the peak of Covid infections and vying for attention with a growing number of rival products.
Market Reaction: Simcere’s shares rose in early trading Wednesday, climbing 2.8% to HK$6.70 at the midday break. The stock now trades near the lower end of its 52-week range.
Translation by A. Au
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