Shanghai Pharma subsidiary's Verapamil injection passes key quality evaluation

Shanghai Pharmaceuticals Holding Co., Ltd. (Shanghai Pharma) announced that its subsidiary, Shanghai Hefeng Pharmaceutical Co., Ltd., received approval from the National Medical Products Administration for its Verapamil Hydrochloride Injection, having passed the generic drug consistency evaluation. This approval signifies that the product meets high standards for quality and efficacy. Shanghai Hefeng's Verapamil Hydrochloride Injection is used for the rapid conversion of paroxysmal supraventricular tachycardia and the temporary control of ventricular rates in atrial flutter or fibrillation. The company incurred development costs of approximately RMB 3.29 million for this evaluation.

This regulatory success is expected to bolster the market share and competitiveness of Verapamil Hydrochloride Injection, as products passing consistency evaluations typically receive greater support in medical insurance payments and hospital procurement. As of the announcement date, besides Shanghai Hefeng, only one other enterprise in China, Sichuan Meadcon Jiale Pharmaceutical Co., Ltd., has achieved this consistency evaluation for the drug.

According to IQVIA data, the market for injectable Verapamil Hydrochloride in mainland China reached RMB 14,851 million in 2024. Shanghai Pharma highlights that this achievement also provides valuable experience for the company's future generic drug consistency evaluations. However, the company also cautioned investors about potential sales not meeting expectations due to uncertainties in national policies and market conditions.