Fosun Pharma and MAIA Pharmaceuticals Jointly Announce the Successful Commercialization of Only FDA Approved 20ml Sodium Phenylacetate and Sodium Benzoate (SPSB) Liquid Product

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Sep 26, 2022, 10:13 ET

PRINCETON, N.J., Sept. 26, 2022 /PRNewswire/ -- Shanghai Fosun Pharma (Group) Co., Ltd. ("Fosun Pharma", stock code: 600196.SH; 02196.HK) today announced that the 20 ml, Sodium Phenylacetate and Sodium Benzoate (SPSB) liquid product, which is under an exclusive partnership between Fosun Pharma USA Inc. ("Fosun Pharma USA"), the US-based subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ("Fosun Pharma"; stock code: 600196. SH, 02196. HK) and MAIA Pharmaceuticals, Inc. (MAIA), a Princeton, NJ based specialty pharmaceutical company, has been recently launched. Fosun Pharma USA has the exclusive commercial rights of this product in the U.S. market.

Based upon market feedback, the usage of 50ml SPSB, as prescribed, predominantly in the pediatric setting, is subject to extensive product wastage which is a huge cost to the healthcare system. SBSP is available in 20 ml and 50 ml vial sizes. Currently, only MAIA has the FDA approval for the 20 ml vial size.

Rong Yang, Chief Executive Officer of Fosun Pharma USA Inc. and Senior Vice President of Fosun Pharma said, "We are excited that this product in partnership with MAIA has been recently launched which marks a milestone for Fosun Pharma's business development in the US market."

Jeremy L. Tatum, Chief Commercial Officer and General Manager of Generics, Fosun Pharma USA Inc. said, "By producing the only commercially available and FDA approved 20 ml SPSB product, MAIA and Fosun Pharma USA are addressing the need to reduce wastage and reduce unnecessary spending on critically needed products. We are ready to ship the Product. For Fosun Pharma USA, this is the first of many 505(b)(2) that will be launched over the next few years."

About Fosun Pharma USA Inc.

Fosun Pharma USA Inc., a subsidiary of Fosun Pharma, was founded in 2017 and continually works to enhance our existing portfolio of specialty pharmaceutical injectables and to build our pipeline with both innovative and generic pharmaceutical drugs. With strategic manufacturing partnerships around the world, Fosun Pharma USA Inc. delivers high-quality products that comply with international standards.

For more information, please visit our official website: https://fosunpharmausa.com/

About Fosun Pharma

Founded in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ("Fosun Pharma"; stock code: 600196. SH, 02196. HK) is a global innovation-driven pharmaceutical and healthcare industry group deep-rooted in China. Fosun Pharma directly operates businesses including pharmaceutical manufacturing, medical devices, medical diagnosis, and healthcare services. As a shareholder of Sinopharm Co., Ltd., Fosun Pharma expands its areas in the pharmaceutical distribution and retail business.

Fosun Pharma is patient-centered and clinical needs-oriented. The company enriches its innovative product pipeline through diversified and multi-level cooperation models such as independent research and development, cooperative development, license-in, and in-depth incubation. Fosun Pharma has formed technological platforms for innovative small molecule drugs, antibody drugs, and cell therapy with a focus on key disease areas including oncology and immunomodulation, metabolism and digestive system, as well as central nervous system. Fosun Pharma also vigorously explores cutting-edge technologies, such as RNA, gene therapy, ADC and PROTAC, to enhance its innovation capabilities.

Guided by the 4IN strategy (Innovation, Internationalization, Intelligentization, and Integration), Fosun Pharma will uphold the development model of "innovation transformation, integrated operation, and steady growth", with the mission of creating shareholder values through strengthening its independent R&D and external cooperation and enriching its product pipelines, as well as promoting the global networks and enhancing operational efficiency. Fosun Pharma will actively promote the digital and physical business layout in the pharmaceutical and healthcare industry and is committed to becoming a first-class enterprise in the global medical and health market.

For more information, please visit our official website: www.fosunpharma.com

About MAIA Pharmaceuticals, Inc.

MAIA Pharmaceuticals is a specialty pharmaceutical company that identifies, develops, manufactures and markets innovative and niche hospital products. It specializes in Injectables, Niche Generic, Diagnostics, Hormones, Oncology, Steroids, and Controlled/Sustained Release. MAIA Pharmaceuticals is headquartered in Princeton, NJ.

SOURCE Fosun Pharma