Shanghai Pharmaceuticals' cefuroxime sodium cleared for generic approval

Shanghai Pharmaceuticals Holding (601607.SS) announced that its subsidiary, Shanghai New Asia Pharmaceuticals, has received approval from the National Medical Products Administration for its cefuroxime sodium for injection, passing the generic drug consistency evaluation. This approval allows the drug, primarily used for respiratory and urinary tract infections, to potentially gain a larger market share due to preferential treatment in insurance reimbursement and hospital procurement. Shanghai Pharmaceuticals invested approximately RMB 5 million in the development and evaluation process. The Chinese market for this drug, which has competitors like Southwest Pharmaceutical and Chengdu Better Pharmaceutical, saw hospital procurements reaching RMB 360.877 million in 2024, according to IQVIA data.