[2021-03-18] Fosun arm makes pioneering effort to sell Portuguese drug in China

Source: Macauhub

An arm of Chinese conglomerate Fosun International Ltd is making the first effort to sell in China a drug developed in Portugal, Lusa reports.

The Portuguese news agency, citing the Chinese National Medical Products Administration website, says a Fosun subsidiary, Shanghai Fosun Pharmaceutical Group Co. Ltd, applied this month to register and sell in China Ongentys, a drug for treating Parkinson’s disease developed by Portuguese pharmaceutical company Bial SGPS SA.

In 2018 Bial sold Shanghai Fosun Pharmaceutical subsidiary Wanbang Biopharmaceuticals Co. Ltd the exclusive licence to make Ongentys for sale in China, for a downpayment of 2.5 million euros (about US$3 million) and a subsequent, conditional payment of 12.5 million euros, Lusa says.