The development of China's domestic innovative drugs in overseas markets

On June 16, Fosun Pharmaceuticals announced that the U.S. Food and Drug Administration (FDA) had recently granted Fast Track designation for its new drug ORIN1001 for the treatment of recurrent, refractory, metastatic breast cancer, including triple-negative breast cancer. ORIN1001 is a First-in-Class small molecule drug with a new enzymatic target, new mechanism of action and new chemical structure type developed by its subsidiary, Fosun Hongchuang, for the treatment of advanced solid tumors, with its first exploratory indication of recurrent, refractory, metastatic breast cancer.

As of May 2019, Fosun Pharmaceutical Group's cumulative investment in R&D for this new drug was approximately RMB45.47 million. Fosun Hongchuang was co-founded by Fosun Pharma and a team of overseas scientists in July 2017, and currently has R&D bases in Suzhou and Los Angeles, focusing on small molecule and cancer cell metabolism-related anti-cancer drugs. Zeng Qingping, President of Fosun Hongchuang, said, "The fast-track status of ORIN1001 for FDA review is a stage recognition of the company's consistent R&D philosophy of using innovative drugs to address unmet clinical needs and bring new hope to patients. Meanwhile, the drug targets the stress mechanism of diseased cells and has some commonality for multiple indications, and we hope to rapidly expand to multiple other indications in the near future and have it approved for marketing worldwide as soon as possible."