HELSINN AND MUNDIPHARMA CHINA PHARMACEUTICAL JOINTLY ANNOUNCE NMPA'S APPROVAL OF THE ORAL FORMULATION OF AKYNZEO® IN CHINA

Helsinn and Mundipharma China Pharmaceutical jointly announce NMPA’s approval of the oral formulation of Akynzeo^® in China

Lugano, Switzerland, and Beijing, China, Sept 17 (Bernama-GLOBE NEWSWIRE) -- Helsinn, a Swiss pharmaceutical group focused on building quality cancer care products, and Mundipharma China Pharmaceutical, the market leader in pain management, today jointly announce that the National Medical Products Administration (NMPA) has approved the oral formulation of Akynzeo^® for the treatment of chemotherapy-induced nausea and vomiting (CINV) in China.

Under the terms of the agreement, Mundipharma China Pharmaceutical has exclusive marketing, promotion and sale rights for the oral formulation of Akynzeo^® in China. Helsinn will be responsible for supplying the drug to Mundipharma and co-detailing the product in Shanghai while retaining all international development rights, including clinical development activities.

Riccardo Braglia, Helsinn Group Vice Chairman and CEO commented: “Lack of control of CINV is a problem despite the availability of several antiemetics. We are pleased that Akynzeo® that targets two CINV critical pathways in a single dose will help patients and their families also in China

“We are also very pleased to be working in partnership with Mundipharma Pharmaceutical. Their expert knowledge and network in China will be invaluable as we begin to market Akynzeo^® in this strategically important region.”

Peter Wang, CEO of Mundipharma Pharmaceutical Greater China commented: “Today’s announcement will be welcomed by Chinese cancer patients, who are undergoing chemotherapy while having to fight against CINV, as well as caregivers. It is also an important extension of Mundipharma China’s portfolio. We look forward to continuing to partner with Helsinn to bring more high-quality cancer supportive care products to millions of Chinese cancer patients in the near future, in line with our vision of ‘Bring more to life.”

About Akynzeo^® in China
Akynzeo^® capsule (300 mg netupitant/0.5 mg palonosetron) was approved on Aug 2th, 2019 in China and is indicated in adults for the prevention of acute and delayed nausea and vomiting associated with highly emetogenic cancer chemotherapy, and prevention of acute and delayed nausea and vomiting associated with moderately emetogenic cancer chemotherapy.

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China non-life insurance market outlook remains negative - AM Best

KUALA LUMPUR, Sept 10 -- AM Best is maintaining its negative outlook on the China non-life sector, owing to persistent pressure on the motor business, execution risks as the market turns toward a non-motor-focused business model and the industry’s dependence on investment returns to support earnings.

The new Best’s Market Segment Report, ‘Market Segment Outlook: China Non-Life Insurance’, also notes that the ongoing United States (US)-China trade war has inadvertently, lowered consumer and business sentiment on the mainland.

For the second quarter of 2019, China reported its weakest quarter-on-quarter GDP growth in decades, registering just 6.2 per cent, according to a statement.

Although the US tariffs are notable, the current slowdown of China’s economy in large part is due to domestic pressures, including a decline in the pace of infrastructure investment, a cooling down of construction industry activity and a decrease in industrial output.

AM Best expects that China’s economic growth will continue to expand moderately in the coming quarters, with GDP growth remaining in the 6.0-6.5 per cent range.

In 2018, the weighted net profit of these insurers declined by 15 per cent year-on-year, while the weighted average return-on-equity dipped by 3.3 percentage points. Overall, the profit margins of the Chinese non-life insurers are likely to remain under pressure in 2019.

Despite some first-half 2019 improvement, the results of China’s non-life insurers are likely to remain relatively volatile, given that earnings are highly co-related to the domestic investment market’s performance.

AM Best is a global rating agency and information provider with unique focus on the insurance industry. More information at www.ambest.com.

-- BERNAMA