ScinoPharm to Engage in Strategic Collaboration with Raffles
CHANGSHU, China, June 22, 2015 /PRNewswire/ -- ScinoPharm Taiwan, Ltd. (TWSE: 1789) and Raffles PharmaTech announced today the collaboration to manufacture "Celecoxib," a non-steroidal and anti-inflammatory analgesic active pharmaceutical ingredient (API). By combining the R&D expertise of Raffles and the commercial production capability of ScinoPharm (Changshu) Pharmaceuticals, Ltd., both sides aim to exploit greater business opportunities in the US market.
Concerning the collaborated production of Celecoxib, Raffles will be responsible for the R&D, while ScinoPharm (Changshu) will be responsible for the manufacturing. After the product launch, both sides will share the profits. The drug master file (DMF) is expected to be submitted in 2016, and products will be available in the United States by 2018.
"ScinoPharm (Changshu) is among the first batch of API plants built in compliance with the regulations after the China Food and Drug Administration (CFDA) announced the new version of the GMP. In order to accelerate the momentum of the Changshu plant, ScinoPharm has simultaneously sought self-development and license-in models to quickly improve capacity utilization and accelerate the growth," said ScinoPharm CEO Dr. Yung Fa Chen. This collaboration case has adopted the license-in model to achieve competitive advantages in velocity, flexibility, and reliability, thereby providing high-quality API manufacturing services.
Raffles PharmaTech is located in Huizhou, Guangdong, China. Focused on organic macromolecule catalysts, value-added pharmaceutical intermediates and APIs, its customer base include well-known international pharmaceutical companies.
Celecoxib is effective in treating a number of common acute pain types, including acute tissue injury and postoperative pain. It is also effective in treating chronic pain, such as osteoarthritis and rheumatoid arthritis. This drug does not inhibit physiological enzymes that have a protective effect on the gastrointestinal tract, thus greatly reducing the risk of adverse reactions in the gastrointestinal tract. According to the forecast from Global Data, celecoxib sales in the U.S. are expected to reach USD 500 million in 2018.
About ScinoPharm
ScinoPharm Taiwan, Ltd. is a leading process R&D and API manufacturing service provider to the global pharmaceutical industry. With research and manufacturing facilities in both Taiwan and Mainland China, ScinoPharm offers a wide portfolio of services ranging from custom synthesis for early phase pharmaceutical activities for brand companies as well as APIs for the generic industry. The Company also is aggressively pursuing a vertically integrated, one-stop-shopping service for drug product customers by expanding into the field of sterile oncological injectable formulations. For more information, please visit the Company's website at http://www.scinopharm.com
SOURCE ScinoPharm Taiwan, Ltd.
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