Shanghai Fosun Pharmaceutical (Group) Co (HK:2196) has released an update.
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Shanghai Fosun Pharmaceutical (Group) Co., Ltd. has announced the acceptance of a new drug registration application by the National Medical Products Administration for a type 2 diabetes treatment developed by its subsidiary, Jiangsu Wanbang Biopharmaceutical. The company has invested around RMB 15.31 million in the research and development of the drug, which is expected to address a significant market as indicated by the strong sales of similar drugs in China.
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