-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
On November 30, Fosun Pharma announced that its holding subsidiary intends to acquire all the shares of Phixen S.
A.
S, a European CDMO company, and provide shareholder loans to Phixen S.
A.
S Group, with the total transfer consideration and shareholder borrowings not exceeding 210 million euros (approximately RMB 1.
55 billion).
According to the announcement, on November 29, Gland Pharma, a subsidiary of Fosun Pharma, and its holding subsidiary, Gland Intl.
, signed the "Sale Option Agreement" with the seller's Sino-French (M&A) Fund, Kaphy Invest, FCPE, and Manxen, a management shareholding platform, and Gland Intl.
irrevocably undertakes to "Gland" after the seller exercises the option to sell the subject equity and the parties sign the Share Purchase Agreement Intl.
will transfer the underlying equity held by the seller and provide a shareholder loan to Phixen S.
A.
S Group, the total amount of the above transfer consideration and shareholder borrowing shall not exceed 210 million euros, or approximately RMB 1.
558 billion, of which the equity value will be 120 million euros and the shareholder borrowing shall not exceed 90 million euros
.
In fact, the domestic pharmaceutical overseas policy environment has continued to improve in recent years, more and more Chinese pharmaceutical enterprises award development strategy from "For China" to "For Global", as a much-watched Chinese pharmaceutical enterprises "going overseas" destination, in addition to the US market, more and more Chinese companies are now targeting the European market
.
The market view is that the global economy is still not optimistic in the medium and long term, under the "cold winter" of the market environment, the pharmaceutical industry chain is at a cyclical trough, and the value of high-quality assets is revealed; At the same time, there are regional opportunities
for unmet clinical needs in local markets.
Domestic pharmaceutical companies are actively seeking ways to break the situation out of the "involvement", and the European market has gradually become their "dream place"
to open up new opportunities.
Deploy CDMO to accelerate the development of overseas markets
Since the beginning of this year, a number of listed companies under Fosun have successively issued announcements on the reduction of controlling shareholders' holdings, which has triggered speculation in the capital market that Fosun Pharma's targeting of Phixen S.
A.
S is a major overseas asset acquisition move by Fosun Pharma after the turmoil in the capital market
.
As soon as the news was disclosed, the capital market reacted strongly, and the stock price of Fosun Pharma continued to rise for
many consecutive trading days.
It is reported that Phixen S.
A.
S was established in France in 2004, mainly focusing on CDMO business, and has rich technical accumulation and experience in the field of technology development and manufacturing
of aseptic products (including high-barrier complex preparations) and biological products.
The target group has a global and diversified customer base, serving more than 100 customers (mainly large multinational pharmaceutical companies and medium-sized European pharmaceutical companies).
As of the announcement date, the target company and 7 wholly-owned subsidiaries have 4 production bases (3 in France and 1 in Belgium) have been certified by the US Food and Drug Administration, the European Medicines Agency and the Brazilian Health Regulatory Agency
.
At the same time, Fosun Pharma further stated that by accelerating the layout of overseas industrial chains, the mature products and manufacturing division will increase the development of special dosage forms, adapt to centralized procurement, transform the marketing model of generic drugs, and promote the transformation of Gland Pharma into biological drug CDMO, complex preparations and difficult injections, as well as the registration process
of products in China.
In fact, whether it is simply an expansion of business segments or to increase the local production capacity of its own products in Europe, this acquisition is in line
with Fogalaxy's long-term development plan.
According to the previous financial report data of Fosun Pharma, in the first half of 2022, Fosun Pharma's overseas revenue was close to 7.
6 billion yuan, a year-on-year increase of more than 46%, and the proportion of revenue exceeded 30%.
It is understood that its main growth is from the strong growth of medical devices, medical diagnosis and medical and health services business such as Furui Medical Technology in major markets such as North America and Europe, and in the first half of 2022, the pharmaceutical business segment of Fosun Pharma achieved revenue of about 14.
3 billion yuan, a year-on-year increase of about 17%, accounting for nearly 70%
of revenue.
Although the proportion of revenue of the pharmaceutical business segment has decreased slightly from the perspective of the overall business segment, it is still the pillar sector of Fosun Pharma's revenue
.
Some people in the industry believe that the target enterprises that Fosun intends to acquire have met the standard certification
of the US FDA and European EMA.
If the transaction is successful, Fosun's Gland Pharma will be able to acquire local production bases in Europe and expand its business capabilities
.
Fosun Pharma can use Gland Pharma to quickly enter the business areas of biological drug CDMO, complex preparations and difficult injections
.
New targets for European cost enterprises to go overseas
Since 2022, there have been many
cases of Chinese pharmaceutical companies entering the European market.
In terms of CDMO, as early as August this year, Porton Pharmaceutical announced that the company intends to build an R&D and production base in Slovenia, focusing on GMP intermediates and raw material production process development, analytical method development, and preparation services
from kilograms to 100 kilograms required for the whole life cycle of drugs from preclinical to clinical stage.
The announcement also shows that the project intends to lease the site of EKPHARMACEUTICALSD.
D.
(hereinafter referred to as "Lek Company", a subsidiary of Novartis) located at Kolodvorskacesta27, 1234Menges, Slovenia, and invest 50 million euros (equivalent to about 350 million yuan) to build a research and development production base, which is expected to be put into operation in September 2024
.
At present, Porton Pharma has a subsidiary Porton EuropeNV in Belgium and a subsidiary Porton Pharmaceutical Chemicals GmbH in Switzerland, mainly responsible for the company's overseas business development
.
The company has a subsidiary, J-STAR Research, Inc.
in the United States, which is mainly responsible for process development business for preclinical to early-clinical projects
.
Porton Pharma believes that the R&D and production base in Slovenia will effectively coordinate with the company's existing business development and R&D bases in Europe and the United States, which will help the company better provide CDMO services to global customers and promote the smooth implementation
of the company's internationalization strategy.
At the same time, by establishing a R&D and production platform in Slovenia, it is conducive to the company to introduce experienced talents in the CDMO industry in Europe and enhance the company's competitiveness
.
In terms of pharmaceutical R&D, with the introduction and implementation of a series of policies to encourage new drug R&D in recent years, the innovation vitality of China's biopharmaceutical industry has been continuously improved, playing an increasingly important role
in the global pharmaceutical innovation map.
In addition, the domestic market environment is fiercely competitive, and the "involution" of homogeneous products has intensified
.
Coupled with domestic medical insurance negotiations, "soul bargaining" such as volume procurement has greatly compressed product profits
.
"Going overseas" to find new market opportunities has become the best choice
for domestic innovative pharmaceutical companies.
After BeiGene submitted its marketing application for tislelizumab by the US FDA, it also began to seek to "break through" Europe
in 2022.
On April 6, 2022, BeiGene announced that the European Medicines Agency has accepted marketing authorization for tislelizumab for two cancers, one for the treatment of esophageal squamous cell carcinoma and one for non-small cell lung cancer
.
This is also the first domestic PD-1 monoclonal antibody
to be filed in Europe.
Recently, BeiGene has also successively issued announcements
on the listing of its product zebratinib capsules in the European Union.
According to the announcement, BeiGene received positive marketing authorization from the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) in early October, recommending approval of zebratinib capsules for the treatment of adult patients
with chronic lymphocytic leukemia (CLL).
A month later, BeiGene once again issued a statement saying that it has recently learned that the European Commission (EC) has granted zebratinib capsules marketing authorization for the treatment of treatment-naïve (TN) or relapsed/refractory (R/R) chronic lymphocytic leukemia (CLL) adult patients
.
While the approval of the drug does not mean that it will ultimately achieve its commercial purpose, BeiGene's stock price has been growing since the news, and although there has been a correction since then, the overall growth trend
has continued.
Some industry views believe that with the intensification of the "involution" of domestic PD-1, the next round of domestic PD-1 competition is quietly shifting
to overseas markets.
However, previously, the domestic PD-1 sought to enter the US FDA market was frequently frustrated, and the market target gradually shifted to the "new continent" of Europe to seek new development opportunities
.
Coincidentally, on November 15, Junshi Biologics also announced that the company has submitted two marketing authorization applications (MAAs) to the European Medicines Agency (EMA) for the PD-1 inhibitor teripulimab for the first-line treatment of patients with locally recurrent or metastatic nasopharyngeal carcinoma (NPC); and teripulimab in combination with paclitaxel and cisplatin for first-line treatment
in patients with unresectable locally advanced/recurrent or metastatic esophageal squamous cell carcinoma (ESCC).
Previously, Hutchison also announced that its new anti-cancer drug fruquintinib has shown significant clinical benefits
in the treatment of patients with advanced gastric cancer or gastroesophageal junction adenocarcinoma in combination with paclitaxel.
According to the plan, Hutchison will submit new drug applications
in the United States, Europe and Japan in 2023 based on international multi-center clinical research data.
Some industry observers believe that due to the stricter supervision of the US FDA in recent years, Europe has always had a high degree of acceptance of new biotechnology, and Europe, as the world's second largest drug market, has huge overall market potential; Many companies have also looked to the possibility
of the European market after trying to enter the US market and encountering obstacles.
In fact, the EU market as a whole can be applied in multiple member states as long as it is approved and certified, and the 2021 global innovative drug sales data shows that the five European countries (the United Kingdom, Germany, France, Spain, Italy) account for 16% of the market share, and the overall size is no less than that of the US market
.
If domestic pharmaceutical companies want to seek to break the situation overseas, they do not have to be stereotyped in the two major markets of Europe and the United States, and it is not a new change
to actively seek changes and blossom in many places.
