Sihuan Pharmaceutical develops first anti-hypertensive drug

Leading Chinese pharmaceutical company Sihuan Pharmaceutical announced March 11 that its application to register Tylerdipine Hydrochloride has been accepted by the Chinese State Food and Drug Administration. The new drug is the first anti-hypertensive developed by Sihuan Pharmaceutical's in-house research and development team.
Tylerdipine Hydrochloride is a calcium channel blocker with a novel molecular structure. The drug is expected to receive permission for clinical trial in China by the end of 2013.Sihuan Pharmaceutical is also applying for Investigational New Drug registration with the U.S. Food and Drug Administration in 2012, making this the company's first drug with both domestic and overseas registration.The company believes Tylerdipine Hydrochloride is more effective than current drugs, and can effectively curb hypertension in clinical practice while offering protection to important organs such as the heart and kidneys. It would also significantly reduce the cost of treating hypertension.Over 200 million Chinese suffer hypertension, a number that grows by more than 3 million each year. The Chinese spend over $5 billion on hypertension treatment. In the United States, hypertension affects approximately 68 million, with treatment costs over $47 billion.

Sihuan Pharma jumps 31.5 pct ahead of HK debut

Shares of Sihuan Pharmaceutical Holdings Group Ltd 0460.HK, China largest cardio-cerebal vascular drugmaker, were indicated to open 31.5 percent higher ahead of their Hong Kong trading debut on Thursday, following a $741 million IPO.

The pre-open market price for Sihuan Pharmaceutical, which markets its products through a network covering about 10,000 hospitals and medical institutions across China, was at HK$6.05 per share, compared with an IPO price of HK$4.60.

Sihuan Pharmaceutical Said to Seek $700 Million in Hong Kong Initial Sale

Sihuan Pharmaceutical Holdings Group Ltd. plans to raise as much as $700 million in an initial public offering in Hong Kong, according to two people familiar with the deal.

Morgan Stanley and UBS AG are managing the sale, said the people, who declined to be identified because the information was private. Haikou, China-based Sihuan Pharmaceutical, which delisted from Singapore’s stock exchange in December, plans to start trading in Hong Kong in late October or early November, the people said.

Rachel Chan, a Sihuan spokeswoman in Hong Kong, declined to comment. Nick Footitt, a Hong Kong-based spokesman for Morgan Stanley, and Chris Cockerill, a UBS spokesman in Hong Kong, also declined to comment.

Sihuan supplies drugs to hospitals across China through a sales network which covers almost every province in the country, according to the company’s website. Its drugs are used for the cardio-cerebral vascular system and the nervous system, the website says.

At least two other medical companies from mainland China, where demands are rising for drugs and medical services, are seeking to list in Hong Kong. China Medical System Holdings Ltd. is seeking about HK$1 billion ($129 million) in its initial sale, according to the prospectus for the transaction. The Shenzhen- based provider of pharmaceutical services plans to start trading on Sept. 28, the prospectus said.