Chi-Med signed a collaboration agreement with the University of Cambridge to study the angiogenesis effects of proprietary and nonproprietary substances derived from Chinese medicinal plants.
Chi-Med is focused on the development of prescription and consumer products derived from traditional Chinese medicine or botanicals. The collaboration with the Cambridge researchers will focus on investigating the angiogenic properties of the company’s heart disease drug called She Xiang Bao Xin Pill (SXBX Pill). This treatment sold over 400 million doses in China in the first half of 2009.
SXBX Pill is also one of the 14 Chi-Med therapies to be included in the list of 307 essential drugs on the New National Essential Medicines List issued by the Chinese Ministry of Health in August. Chi-Med says that these 14 drugs, which are manufactured by Chi-Med’s China healthcare division, represent over 80% of the segment’s sales of prescription and OTC drugs. The China healthcare division recorded sales of $53.1 million in the first half of 2009.