Last checked at 17 Jul 2015 07:00
20-year invention patent granted on Chi-Med's best selling prescription drug
London: Friday, 17 July 2015: Hutchison China MediTech Limited ("Chi-Med") (AIM: HCM) today announces that Shanghai Hutchison Pharmaceuticals Limited ("SHPL"), its prescription drug joint venture, has been granted an invention patent in China ("Invention Patent") covering the formulation for the best selling prescription drug of Chi-Med for the treatment of cardiovascular diseases, She Xiang Bao Xin pill ("SXBXP"), until 2029, twenty years from its original filing date.
SXBXP is the most important prescription drug product of SHPL with sales in 2014 of US$138.8 million (2013: US$123.6m). SXBXP represents 90% of current SHPL sales and has grown at a compound annual average growth rate of 29% per year since 2007. It underpins the commercial operation of SHPL of over 1,700 medical representatives and marketing staff who manage the distribution and sales of SXBXP in approximately 13,500 hospitals, covering over 80,000 physicians, in China.
SXBXP was first approved for use in cardiovascular diseases in 1983 and subsequently enjoyed 22 years of proprietary commercial protection under the then regulatory system in China. In 2005, SHPL was able to attain "Confidential State Secret Technology" status protection on SXBXP, as certified by China's Ministry of Science and Technology and State Secrecy Bureau which extended proprietary protection of SXBXP until late 2016. The above Invention Patent will extend proprietary protection of SXBXP through 2029.
Christian Hogg, Chief Executive Officer of Chi-Med said: "The grant of this new patent will allow for this important cardiovascular therapy, to maintain its proprietary position in China for many years to come. SXBXP is the cornerstone proprietary prescription drug in Chi-Med's Commercial Platform in China -- a platform that we intend to leverage to launch many of the novel oncology and immunology drug candidates that we are currently developing in China if and when they receive regulatory approval."
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Enquiries
Chi-Med Christian Hogg, CEO | Telephone: +852 2121 8200
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Panmure Gordon (UK) Limited | Telephone: +44 20 7886 2500 |
Richard Gray Andrew Potts |
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Citigate Dewe Rogerson Anthony Carlisle David Dible | Telephone: +44 20 7638 9571 Mobile: +44 7973 611 888 Mobile: +44 7967 566 919 |
Notes to Editors
About Chi-Med
Chi-Med is a China-based healthcare group focused on researching, developing, manufacturing and selling pharmaceuticals and health-related consumer products. Its Innovation Platform focuses on discovering and developing innovative therapeutics in oncology and autoimmune diseases. Its Commercial Platform manufactures, markets and distributes prescription drugs and consumer health products in Asia.
Chi-Med is majority owned by the multinational conglomerate CK Hutchison Holdings Limited (SEHK: 1). For more information, please visit: www.chi-med.com.