logo
  Join        Login             Stock Quote

Zhejiang Huahai To Provide Finished Drug Product to Merck

 July 29, 2008 07:53 PM
 


Zhejiang Huahai Pharmaceutical Co., Ltd. (SHSE: 600521) signed an agreement with Merck (NYSE: MRK) to provide an unnamed finished product to the big pharma. The deal represents a move up for Huahai Pharma, which has traditionally provided APIs to western pharmaceutical companies, as well as finished drugs in China.

Under the agreement, Huahai Pharma will formulate, produce and package the drug. Merck will distribute the product worldwide. Before Huahai can begin supplying the product, it must pass inspection by the FDA and the European Union. Huahai expects those approvals in the second half of 2009.

Huahai will also produce other preparations, pharmaceutical ingredients and intermediates for Merck under the agreement.

In October 2007, Huahai won the first ever FDA approval for a finished drug when the agency gave its OK to Huahai for generic version of the AIDS drug nevirapine, a Boehringer Ingelheim product that it markets under the name Viramune. Huahai must wait until the patent expires on nevirapine, which will occur in May 2012, before it actually exports the product to the US. Meanwhile, it is selling the drug to the government of China at $3.50 per bottle of 60, 200 mg pills.

At the time of the nevirapine approval, Huahai expected its next success would be a finished-dose Alzheimer's drug that would be sold in Europe and sales of nevirapine to the Clinton foundation for use in Africa, which would be allowable under the President's Emergency Plan for AIDS Relief (PEPFAR).

Zhejiang Huahai was founded in 1989. The company's website says its manufacturing facility includes 13 API workshops and one formulation workshop. Huahai's A shares were listed on the Shanghai Stock Exchange in March 2003.
iOnTheMarket Premium
Advertisement

Advertisement


Comments Closed


rss feed

Latest Stories

article imageShould You Invest In The Hottest New Trend In Finance?

Thanks to major changes in regulation, social media and technology, the business of banking has undergone read on...

article imageStrong Attractor in Action Pulling S&P 500 Down

The attractor is formed by the 200-day moving average and the 50% Fibonacci retracement of the up move from read on...

article imageIs The Weak Housing Market A Warning Sign For The US Economy?

Today’s US economic releases – housing starts and business survey data for the manufacturing sector – read on...

article imageShort-term Pullback or Something Worse?

A few weeks ago when we called for a short-term pullback of 4 to 5%, it was due solely to the short-term read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.