BRISTOL-Myers Squibb Co, the US drug maker, will launch nine to 10 new drugs in China over the next three to five years to tap the nation's rapidly growing pharmaceutical market, which still accounts for a small percentage of its global sales.
The new drugs will treat hepatitis, tumors, diabetes and other diseases, and will include the anti-breast cancer treatment Ixempra, which has just been approved the US Food and Drug Administration, the company said yesterday.
To go with the new launches the company will increase clinical trials in China from next year, Kabir Nath, its China president, told reporters in a briefing in Shanghai.
"We will speed up the launch of new drugs here to serve the market which has huge potential and becomes an increasingly important place for modern pharmaceutical companies' R&D activities," Nath said at the celebration of the 25th anniversary of their joint venture, Sino-American Shanghai Squibb.
Revenue of the joint venture, in which the US drug maker has a majority stake, will reach a record high of two billion yuan (US$267 million) this year, thanks to the strong sales of Baraclude that treats hepatitis B.