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Hisun Pharmaceutical gained approval to sell the products in Europe jointly with a Germany pharmaceutical producer, after the patent for fluvastatin expired in some European countries in August 2008.
Patents on many general drugs are scheduled to expire in the following few years, indicating huge developing rooms for pharmaceutical ingredients producers like Hisun Pharmaceutical. Hisun Pharmaceutical has handed in many drug master files with the Food and Drug Administration (FDA), including files on simvastatin, pravastatin, bicalutamide, tolterodine and aripiprazole.
Based in South China's Taizhou City, Hisun Pharmaceutical gained net profits of CNY 136 million and revenue of about CNY 2.376 billion in January-September 2008, rising 41.99% and 12.59% from a year ago, respectively. It previously inked cooperative agreements with US-based Alpharma, Inc. (NYSE: ALO) on jointly producing vancomycin.
Source: www.shihua.com.cn (December 04, 2008)
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