Sinotherapeutics went public on the Shanghai Stock Exchange STAR Market on August 25. The company will continue to use its R&D advantages to promote the innovation of techniques and products and provide more high-quality products and professional services to the customers.
Sinotherapeutics (Chinese: 宣泰医药) was listed on the Shanghai Stock Exchange STAR Market on August 25. According to public resources, Sinotherapeutics is a high-tech enterprise driven by R&D innovation that specializes in developing, producing and selling high-end formulations and CDMO services.
According to its prospectus, Sinotherapeutics issued 45.34 million shares and raised CNY 425 million (USD 62 million). The funds will be used to support the complex building project for formulation production and related auxiliary facilities and the R&D project for high-end generic drugs and improved new drugs. The completion of the funding will help the company increase its production capacity, improve technologies, enrich the product lines and further enhance the overall competitiveness of the company's high-end formulation and CDMO business.
The company's generic drugs include Posaconazole Oral Suspension, Bupropion Hydrochloride Sustained-release Tablets and Propafenone Hydrochloride Extended-Release Capsules. The sales volume of the company's Posaconazole Oral Suspension was nearly USD 56.2 million in the American market in 2021, with a market share of almost 41.34%. Besides, the company has achieved milestones for several products. For example, it has completed 4 ANDA and 6 NMPA filings for its self-developed products by the end of 2021. Besides, il completed 2 ANDA and 3 NMPA filings for high-end generic drugs developed in collaboration.
The company's competitors include Salubris (Chinese: 信立泰), BrightGene (Chinese: 博瑞医药) and Kingmed Pharm (Chinese: 嘉士腾医药).