Medical equipment and an armchair stand in the chemotherapy treatment area at the Hong Kong … [+]
Sino Biopharmaceutical, one of China’s largest non-government-controlled pharmaceutical companies, has received permission from the U.S. Food and Drug Administration to sell a drug to help cancer patients fight off nausea and vomiting connected to chemotherapy.
The FDA approved the fosaprepitant dimeglumine for injection under an abbreviated new drug application, or ANDA, process, Sino Biopharmaceutical said in a statement. ANDA approvals cover generic drugs that provide relatively low-cost alternatives to innovator brands.
The approval will accelerate the company’s expansion into the international market for cancer drugs and “pave the way for the subsequent overseas market promotion of a series of high-end generic drugs,” Sino Biopharmaceutical said.
Covid-19 has killed more than two million people globally to date; cancer killed approximately 10 million around the world in 2020 alone.
Tse Ping, a Sino Biopharmaceutical executive director, has a fortune worth $8.9 billion on the Forbes Real-Time Billionaires List today.
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I’m a senior editor and the Shanghai bureau chief of Forbes magazine. Now in my 20th year at Forbes, I compile the Forbes China Rich List. I was previously a