Shanghai Shyndec unit gets approval for new anesthetic

Shanghai Shyndec Pharmaceutical (SSE:600420) announced that its holding subsidiary, Sinopharm Zhijun (Shenzhen) Pingshan Pharmaceutical, has received approval from the National Medical Products Administration for Lidocaine and Prilocaine Cream. This follows an acquisition agreement where Sinopharm Zhijun acquired the marketing authorization from Shenzhen Taili Bio-Pharmaceutical, the parent company of Shenzhen Yujian Biomedical, for a total cost of CNY 12.2 million. This new approval enriches Shanghai Shyndec's range of pharmaceutical products and is expected to bolster the company's competitive edge in the anesthetic market. The company cautioned that sales could be impacted by industry policies and market conditions.