Two potential new drugs of Hehuang pharmaceutical will be submitted to CFDA for approval in 2016

Backed by Li Ka Shing, one of Asia's richest men, and listed in London, Hutchison China Meditech said it was close to producing the first modern medicine developed in China in decades, the Financial Times reported, a sign that China is expected to become a new force in the pharmaceutical sector Hehuang predicts that it will submit its first batch of drugs to regulatory authorities for approval next year, followed by other drug approvals The Hong Kong based company is trying to move beyond traditional Chinese herbal medicine to modern cancer treatment He Jun, chief executive of Huang medicine, said Christian's goal is to become China's first large-scale developer of indigenous innovative drugs (Hogg) "China has been a passenger in drug development for the past 20 years, but that is starting to change," he told the financial times Hutchison Whampoa, part of Li Ka Shing's Hutchison group, has a holding company listed on the second board of London, alternative investment market (AIM) The company is currently engaged in 16 clinical studies involving 7 experimental drugs for various cancers and inflammation He said two of the most promising drugs will be submitted for regulatory approval in 2016 Fruquintinib, developed in cooperation with Eli Lilly in the United States, is used for the treatment of colorectal cancer and lung cancer, and savortinib, jointly developed with AstraZeneca in the United Kingdom, aims to treat renal cancer and gastric cancer Analysts cautioned that approval would not guarantee the company's success in clinical trials or market share in the highly competitive cancer drug market But Savas of Panmure Gordon? Savvas neophytou said the company had made faster progress than expected He added that the massive increase in R & D Investment announced last week is expected to shorten the "R & D time of fiquitini by up to one year."