Shanghai Fosun Pharma (Group) Co., Ltd. (“Fosun Pharma”, stock code: 600196.SH; 02196.HK) today announced that the 20 ml, Sodium Phenylacetate and Sodium Benzoate (SPSB) liquid product, which is under an exclusive partnership between Fosun Pharma USA Inc.(“Fosun Pharma USA”), the US-based subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”; stock code: 600196. SH, 02196. HK) and MAIA Pharmaceuticals, Inc.(MAIA), a Princeton, NJ based specialty pharmaceutical company, has been recently launched. Fosun Pharma USA has the exclusive commercial rights of this product in the U.S. market.
Based upon market feedback, the usage of 50ml SPSB, as prescribed, predominantly in the pediatric setting, is subject to extensive product wastage which is a huge cost to the healthcare system. SBSP is available in 20 ml and 50 ml vial sizes. Currently, only MAIA has the FDA approval for the 20 ml vial size.
Rong Yang, Chief Executive Officer of Fosun Pharma USA Inc. and Senior Vice President of Fosun Pharma said, “We are excited that this product in partnership with MAIA has been recently launched which marks a milestone for Fosun Pharma’s business development in the US market.”
Jeremy L. Tatum, Chief Commercial Officer and General Manager of Generics, Fosun Pharma USA Inc.said, “By producing the only commercially available and FDA approved 20 ml SPSB product, MAIA and Fosun Pharma USA are addressing the need to reduce wastage and reduce unnecessary spending on critically needed products. We are ready to ship the Product. For Fosun Pharma USA, this is the first of many 505(b)(2) that will be launched over the next few years.”