Anxo Pharmaceutical announced on the 25th that its partner, China Resources Double-Crane Pharmaceutical (Jinan), has received marketing approval from the National Medical Products Administration (NMPA) of China for paliperidone extended-release tablets, indicated for the treatment of schizophrenia. This approval is considered equivalent to passing the consistency evaluation of generic drugs' quality and efficacy in China. Anxo Pharmaceutical is expected to recognize a milestone payment as early as this quarter, boosting its revenue.
Anxo Pharmaceutical stated that the paliperidone extended-release tablets approved in China are second-generation antipsychotic drugs developed using Anxo's proprietary CORS (Controlled Release Osmotic System) technology platform. Clinical studies have shown that paliperidone has a rapid onset of action, effectively controls various psychiatric symptoms, significantly improves patient function, reduces relapse rates, and has good safety, making it a first-line treatment for schizophrenia.
According to an announcement from CR Double Crane, the parent company of China Resources Double-Crane Pharmaceutical (Jinan), there are currently four other competitors in the Chinese market with extended-release formulations of the same active ingredient, aside from the original patent drug. Data from local MiNet shows that the market size for this drug reached RMB 844 million in 2023. With the recent acquisition of the drug registration certificate, China Resources Double-Crane Pharmaceutical (Jinan) aims to secure a substantial market share, leveraging the group's extensive distribution network in China's pharmaceutical sector.
Anxo Pharmaceutical remarked that with economic development, increasing stress, lifestyle changes, and the complex etiology, long treatment cycles, and high relapse rates of schizophrenia, the number of patients with schizophrenia is steadily rising globally, including in China. Consequently, the overall market for schizophrenia medications is expected to grow steadily.
Resource (mandarin): 瑩碩中國大陸授權夥伴取證成功 本季認列里程碑金
