Fosun Pharma subsidiary gets approval for new drug

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (HKEX: 2196) announced that its subsidiary, Jinzhou Avanc Pharmaceutical Co., Ltd., has received approval from the National Medical Products Administration (NMPA) in China for its Fovinaciclib Citrate Capsules. Marketed under the trade name 复妥宁, the drug is approved for use in combination with Fulvestrant for treating adult patients with hormone receptor (HR) positive and human epidermal growth factor receptor-2 (HER2) negative recurrent or metastatic breast cancer, who have experienced disease progression after prior endocrine therapy. Fosun Pharma invested approximately RMB601 million in the research and development of Fovinaciclib. According to IQVIA MIDAS™, the global sales of CDK4/6 inhibitors reached US$14.777 billion in 2024. The company cautioned that sales performance is subject to market factors and investor should note the risks.