ASIA NEWS: Hua and Sinopharm Announced Supply Chain Strategic Cooperation
/ / ASIA NEWS: Hua and Sinopharm Announced Supply Chain Strategic Cooperation

ASIA NEWS: Hua and Sinopharm Announced Supply Chain Strategic Cooperation

ASIA NEWS:


SHANGHAI, CHINA, Sept 15, 2021 – (ACN Newswire) – On September 13, 2021, Hua Medicine (Shanghai) Ltd. (the “Hua Medicine”, Stock Code: 2552.HK) has signed a supply chain strategic cooperation agreement with Sinopharm Group Co., Ltd. (the “Sinopharm”, Stock Code: 1099). The agreement will see both companies work more closely together in logistics warehousing and supply chain management. It will also promote the commercialization by Hua Medicine of dorzagliatin (the “Sinopharm”), a first-in-class global glucokinase activator. The ceremony was attended by Dr. Li Chen (Founder and CEO of Hua Medicine), Ms. Wenjie Xu (Vice President of Commercial Strategy and Marketing), Mr. Yong Liu (President of Sinopharm) and Mr. Xudong Zhou (Vice President of Sinopharm).

Hua Medicine’s strategic partnership with Sinopharm is a significant step to accelerate dorzagliatin commercialization and launch in the market. The cooperation will benefit from both Hua Medicine’s pharmaceutical innovation capability as well as Sinopharm’s supply chain system, channel network and logistics resources. This will allow dorzagliatin to be more easily accessible to Chinese patients. It will also help promote diabetes treatment with full life cycle management and accurate treatment. At the same time, this cooperation will also fully align with the “Healthy China 2030” strategy. The agreement states that Sinopharm will use its national-wide supply chain network and channel networks in China to provide professional logistics services for Hua Medicine. Hua Medicine will be able to rely on Sinopharm’s national drug distribution network for in-depth supply chain management cooperation. Both companies will be able to expand their cooperation in channel informationization and other areas.

There have been many great developments in the commercialization of Hua Medicine’s new drug since last year. In August 2020, Hua Medicine and Bayer AG, a global biopharmaceutical company and the leader in the field of diabetes treatment in China, established a strategic partnership to commercialize dorzagliatin in China.

In September 2020, the Company obtained the drug manufacturing permit for dorzagliatin and completed the requisite work for its commercial production. In December 2020, the Company entered into a commercial production and supply agreement with Raybow Pharmaceutical, the subsidiary of Zhejiang Jiuzhou Pharmaceutical. In March 2021, Hua Medicine submitted New Drug Application (NDA) of the first glucokinase activator dorzagliatin for type 2 diabetes (T2D) patients, and this application has been accepted by the China National Medical Products Administration (NMPA) in April. Hua Medicine also established a manufacturing firm to supply dorzagliatin to the Shanghai Lingang Special Area.

Sinopharm is a leading distributor and supply chain service provider of pharmaceuticals and healthcare products in China, with a leading position in both wholesale and retail pharmaceutical markets. Sinopharm has more than 1000 branches and subsidiaries, covering 31 provinces and 388 prefecture-level cities across the country. Sinopharm has professional marketing services and teams that cover all aspects of medical logistics, urban and rural.

“We are very pleased to become a strategic partner with Sinopharm. This partnership is crucial for Hua Medicine’s commercialization efforts. At present, the number of patients with T2D in China has reached approximately 120 million, and diabetes treatment has become a major health challenge affecting the health of many Chinese nationals. In the past 10 years, Hua Medicine aims to cure diabetes and has transformed the scientific concept of “Repair the sensor, restore homeostasis, and treat the underlying cause of diabetes” into a breakthrough drug for T2D patients. We look forward to working closely with leading pharmaceutical distributor companies like Sinopharm in order to build a strong network of logistics and distribution so that dorzagliatin can be delivered to Chinese patients as soon possible. Hua Medicine’s founder and CEO, Dr. Li Chen.

“We are very glad to witness the strategic cooperation between Sinopharm and Hua Medicine, opening a new chapter on our cooperation. Sinopharm is committed to the company philosophy “All for Health and Health for All”. Sinopharm has been a pioneer in the development of smart pharmaceuticals and supply chains, and has seen its efficiency improve over the years. There are many opportunities for cooperation with Hua Medicine as China’s largest wholesaler, retailer, and distributor of pharmaceutical, medical, and healthcare products. Sinopharm President, Mr. Liu Yong.

About Dorzagliatin

Dorzagliatin is an investigational first-in-class, dual-acting glucokinase activator, designed to control the progressive, degenerative nature of diabetes by restoring glucose homeostasis in patients with Type 2 diabetes. Dorzagliatin addresses the problem of glucose sensor function in glucokinase and can be used as a cornerstone therapy to address the root cause of diabetes. China has completed Phase III registration trials of dorzagliatin monotherapy, and dorzagliatin combined with metformin. There have also been studies on drug mechanism synergy (DPP-4 inhibitor), empagliflozin and sitagliptin. The Shanghai Municipal Drug Administrative Bureau issued the Company a “Drug Manufacturing Permit” for dorzagliatin. It has also submitted its NDA (National Medical Products Administration) to help realize the “First in Global and Start from China” mission.

About Hua Medicine

Hua Medicine is a leading, innovative biotechnology company in China focused on developing novel therapies for diseases with unmet medical needs. Hua Medicine was founded by a group of experienced entrepreneurs and international investment companies. It has successfully completed two Phase III registration trials for dorzagliatin in China. This novel diabetes treatment has been studied in the Company’s product life cycle management studies and is being used for personalized diabetes care. Hua Medicine works closely with regulatory agencies and disease experts in China and around the globe to improve diabetes care for patients. Hua Medicine is listed on the Stock Exchange of Hong Kong Limited (stock code: 2552.HK)

About Sinopharm Group

Sinopharm Group was established in January 2003 and listed on The Stock Exchange of Hong Kong Limited (stock code: 01099. HK) in September 2009. It is a core subsidiary to China National Pharmaceutical Group Co. Ltd. and is the largest wholesaler of medical devices and pharmaceutical products in China.

For more information

Hua Medicine

Website: http://www.huamedicine.com

Investors

Email: ir@huamedicine.com

Media

Email: pr@huamedicine.com

Porda Havas International Finance Communications Group

Mr. Bunny Lee +852 3150 6707 bunny.lee@pordahavas.com

Ms. Louisa Chen +86 75523807432 louisa.chen@pordahavas.com

Ms. Karen Chiu +852 3150 6726 karen.chiu@pordahavas.com

Ms. Winnie Tan +852 15915975512 winnie.tan@pordahavas.com

Topic: Press release summary

Source: Hua Medicine


Sectors: BioTech, Healthcare & Pharm

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