Fosun Pharma’s Subsidiary Gains Approval for New Drug Application
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Shanghai Fosun Pharmaceutical's subsidiary, Shanghai Zhaohui Pharmaceutical, has received approval for its drug registration application for Polyethylene Glycol (3350) Electrolytes Powder from the National Medical Products Administration. This drug targets chronic constipation and represents a significant R&D investment of RMB6.21 million. The approval could strengthen Fosun Pharma's market position in China. The latest analyst rating for Fosun Pharma's stock (HK:2196) is a Buy with a target price of HK$35.30.
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