Shanghai, China - Dec, 23 2018 -- Shandong Luoxin Pharmaceutical Group (hereinafter referred to as "Luoxin Pharmaceutical") today announced the company has reached an agreement with Aurobindo Pharma Co., Ltd. (hereinafter referred to as "Aurobindo Pharma") to establish a joint venture company in China and invest in both R&D and manufacturing systems on respiratory products. Aurobindo Pharma will transfer respiratory products and technical know-hows with technologic barriers to China for local manufacturing; the joint venture company will possess numerous products approved by US FDA and EMA, and manufacture respiratory products to supply China, US and EU markets to provide more and better options for patients in those regions.
Aurobindo Pharma, a publicly listed company in India since 1992, is a top 5 generic pharmaceutical company globally. The company boasts a strong R&D pipeline focused on respiratory, central nerve system, cardiovascular, gastrointestinal track, anti-infectious, anti-HIV, diabetes, and other therapeutic areas. The products are of high quality, affordability and supply-chain sustainability, and have been sold in more than 150 countries across US, EU and emerging markets. The company has the most DMF and ANDA applications among all India generic companies, and many of its manufacturing sites are FDA and COS certified. The company acquired the commercial operations in the US from Sandoz in September this year, making it the second largest generic company in US.
China still faces enormous unmet medical needs. After the recent implementation of ‘4+7 Quantity Procurement’ policy enacted by the central government, it is of paramount importance to provide patients with high quality and affordable medicines. The recent new regulations on expediting regulatory processes and acceptance of overseas clinical study data have a positive impact on bringing high quality pharmaceutical products from overseas into China market. Under these circumstances, the collaboration between Luoxin and Aurobindo is of great strategic importance given the competiveness of Indian pharmaceutical companies in terms of quality and cost. Luoxin Pharma will continue to utilize its rich experience in external collaboration and bring more high quality products into China, thus benefiting the patients and helping alleviate the medical expense burden.
Mr. Ryan Liu, the Executive Chairman of Luoxin Pharma said, “Luoxin highly values the collaboration with Aurobindo. While we expect to hold further discussions with Aurobindo on products and business models, we look forward to collaborating with more outstanding pharmaceutical companies, domestic and abroad. Our ultimate strategic goal is to achieve win-win situations and energize our partners via Luoxin’s advantages in the whole healthcare value chain established over the years, eventually benefiting the Chinese patients, the Chinese healthcare industry, and the country.”