690 million yuan! Shanghai Pharmaceuticals introduces a new type of antacid drug

October 10, 2021

On October 9, Shanghai Pharmaceuticals issued an announcement that its wholly-owned subsidiaries, Shanghai Shangyao Xinyi Pharmaceutical Co., Ltd. (hereinafter referred to as "Shangyao Xinyi") and Guizhou Shengnuo Biotechnology Co., Ltd. (hereinafter referred to as "Guizhou Shengnuo") ) And its wholly-owned subsidiary Jiangsu Terui Shengnuo Biomedical Technology Co., Ltd. (hereinafter referred to as "Jiangsu Shengnuo") signed a "cooperation agreement" for no more than RMB (the same currency below) 690 million yuan (except for sales commissions) The transaction amount of the new acid inhibitor X842 project (hereinafter referred to as "X842") raw materials and preparations in China (including Hong Kong, Macau and Taiwan, the same below) exclusive consignment production and industrial sales rights for all indications (hereinafter referred to as "This transaction"). In the future, the two parties will further discuss cooperation in the form of equity investment and joint development, and accelerate the development and listing of X842 and other products under research.

The new acid inhibitor X842 is a new generation of potassium ion competitive acid blocker (P-CAB) oral drugs. The existing data show that it has the advantages of rapid onset, strong acid suppression and long-lasting, and few adverse reactions. At present, Guizhou Shengnuo has carried out domestic phase III clinical research on reflux esophagitis and plans to carry out clinical research on new indications. Traditional proton pump inhibitors (PPI) have been used as first-line treatments for acid-related diseases for many years. In 2020, the IMS database shows that the sales of traditional PPI products totaled 20.29 billion yuan. The 2020 expert consensus on gastroesophageal reflux disease (GERD) in China made it clear that PPI or P-CAB is the drug of choice for the treatment of GRED. At present, the only P-CAB drug approved for marketing in China is Takeda's voronola fumarate green tablets, and it has entered the 2020 national category B medical insurance catalog. The H-008 of the similar product under research in Jiangsu Kefeiping Pharmaceutical Co., Ltd. has completed the phase 3 clinical trial of reflux esophagitis and the phase 3 clinical trial of duodenal ulcer. Shandong Luoxin Pharmaceutical's tivarate tablets will be launched in June 2021. An NDA application was submitted. In addition, Fexuprazan (DWP14012), a subsidiary of Yangtze River Pharmaceutical Group Shanghai Hainey Pharmaceutical Co., Ltd., and Daewoong Pharmaceutical of South Korea, has been approved by the NMPA for Phase 1 clinical trials. The announcement stated that the new acid inhibitor X842 is a new drug with broad market prospects. Its cooperative development will further enrich the innovative R&D pipeline of Shanghai Pharmaceuticals, combined with the company’s mature production and sales resources in the focused digestion and metabolism field, and give full play to the industry. Synergy with marketing is expected to become a blockbuster Class 1 innovative drug, providing new growth drivers for the company's performance.

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