Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ("Fosun Pharma" SH.600196) announces that it receives CFDA approval for clinical trials of the innovative drug FCN-437c capsule and its APIs ("New Medicine") , which is intended to treat solid tumors.

Until December 2017, Fosun Pharma invested approximately RMB 28 million on R&D for the New Medicine.

Until January 23th, 2018, there is no medicine with independent intellectual property right launched in China (excluding Hong Kong, Macau and Taiwan) with the same targeted therapy as the New Medicine. In 2016, the global sales of similar medicine amounted to about $2.1 billion.