Japan-based pharma firm Shionogi has announced that Shionogi China, a Shionogi group company in China, has entered into a share transfer agreement with Zhejiang Gaozhi Pharmaceutical Technology Co., regarding the transfer of shares in Shenzhen Liancheng Pharmaceutical Co. and Nanjing Chang'ao Pharmaceutical Co., which operate Shionogi's generic drug business in China.
Shenzhen Liancheng Pharmaceutical and Nanjing Chang'ao Pharmaceutical are Shionogi group companies engaged in the development, manufacturing, and sales of generic drugs in China. The generic drug business has served as a foundation for Shionogi's business in China for many years.
In recent years, however, in response to changes in the business environment, Shionogi has been transitioning its business in China toward a business model centered on innovative medicines. The agreement represents an initiative to advance the structural transformation of Shionogi's business in China.
In China, Shionogi has been steadily expanding its business centered on innovative medicines, including obtaining regulatory approvals for Shionogi-discovered products such as cefiderocol, a siderophore cephalosporin antibiotic, and naldemedine, a treatment for opioid-induced constipation.Through the agreement, Shionogi will further accelerate the allocation of management resources to its innovative medicine business and further strengthen the competitiveness of its business in China.
