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Trending in China: Macau Eases Travel Restrictions but Will Covid-19 Tests Kill People’s Travel Bug?
Alibaba Subsidiary Cainiao Pushes Into Malaysia With Cross-Border Delivery Service
Trending in China: School Throws Away Students’ Food Deliveries To Force Use of Canteen
Chinese Electric Carmaker Li Auto Teams Up With U.S. Chipmaker Nvidia Recycling Operator Wanwu Xinsheng Nets Over $100m
HSBC Shares Fall to Lowest Since 2009 As Investors Fret About Financial Crimes Report
Huawei Cuts R&D Investment and Jobs in Australia Amid Tech War
Tencent’s Navigation App Plans to Add Taxi-Hailing Feature to Compete with Baidu Maps, Alibaba-Backed Amap Healthcare Unit Plans Hong Kong IPO
Hong Kong-Headquartered Plant-Based Food Producer Green Monday Closes $70 Million Funding Round
China-focused IDG Capital in Market For New $550m Venture Fund
Students at a Xi’an University Scream Over Quarantine Conditions
Industrial Drone-Maker Jouav Navigates Tech Tensions With IPO Plans
Trending in China: Reality TV Goes Viral for All the Wrong Reasons as Star Picks Endangered Flower
Can Baidu Make ‘Traffic Jams a Thing of The Past’ and Turn Finances Around?
Will Beijing’s Crackdown on E-Commerce Illegal Sales Save Yangtze River Wildlife?
China-focused Northern Light Looks to Raise $375m for New VC Fund
China Looks to Overhaul State Health Insurance System
Gree’s E-Commerce ‘New Retail Strategy’ Goes From Strength to Strength as $175m Worth of Products Sold in Single Event
Trending in China – Clothing Company Picks Fight With Shaolin Kung Fu Monastery
China Approves First Biosimilar of Foreign Drug, Breaking Roche Monopoly

By Wang Luyao and Tang Ziyi / Feb 27, 2019 06:16 PM / Business & Tech

China’s National Medical Products Administration announced Monday that it has approved the country's first biosimilar drug — a copy of Roche’s drug Rituxan for treatment for lymphoma.

Biosimilars are nearly identical copies of biologics -- medicines made from living cells that must be stored under special conditions— already approved by a regulator.

The biosimilar drug made by Fosun Pharma’s joint venture subsidiary Shanghai Henlius Biotech will break the monopoly of Switzerland’s Roche, which has been the only supplier of Rituxan in China.

In 2017, Rituxan accounted for 1.73 billion yuan ($258.6 million) of Roche’s China sales, after the drug was added into the government-backed insurance reimbursement scheme, said Fosun Pharma in a statement.

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