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 06/04/2010
[Industry news]
Neostem: Chinese Subsidiary Gains Approval for Antibiotic
NeoStem, Inc. reported that its China subsidiary, Suzhou Erye Pharma, was granted SFDA approval to produce cloxacillin sodium API, a generic anti-infective.
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NeoStem, Inc. reported that its China subsidiary, Suzhou Erye Pharma, was granted SFDA approval to produce cloxacillin sodium API, a generic anti-infective. Because it is included in China’s National Medical Reimbursement Insurance List, Cloxacillin sodium is eligible for reimbursement by the government\'s healthcare programs.
NeoStem\'s Chairman and CEO, Robin Smith, commented, \"Cloxacillin sodium is the second of seven drugs in Erye\'s pipeline to be approved since the acquisition of our 51% interest in Erye and is an important addition to the company\'s product offerings.”
Madam Jian Zhang, Erye\'s General Manager, admitted that many of China’s pharma companies can produce generic antibiotics. She believes, however, that the market is large enough, with potential to expand significantly, to afford Erye an opportunity with its new product. Erye plans to launch the drug this summer. In November 2009, Erye received approval to produce generic Omeprazole, a proton pump inhibitor prescribed for gastroesophageal reflux disease [GERD] and other excessive stomach acid conditions. |
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