News from Cailian Press (Shenzhen, Reporter: Ding Rong): Joincare Pharmaceutical Group Industry Co., Ltd. (Joincare, 600380.SH) has seen new progress in its high-profile Budesonide Suspension for Inhalation. The Company recently received the Drug Registration Certificate issued by the National Medical Products Administration (NMPA) for its drug named Budesonide Suspension for Inhalation (generic name), according to the announcement released by Joincare on the evening of December 10. A number of the Company's inhalable drugs have been approved, and this Budesonide Suspension for Inhalation (big specification) is projected to be a core product with a large market volume in line with its deployment at the early stage, a manager from Joincare told Cailian Press on the morning of December 11.

The manager also pointed out, "The Company obtained the Drug Registration Certificate for the small-specification Budesonide Suspension for Inhalation (2ml:0.5mg) this July, and now the Drug Registration Certificate for the large-specification Budesonide Suspension for Inhalation (2ml:1mg). Its matrix of inhalable drugs is going smoothly in line with expectations. Next, the Company will speed up the hospitalized development of new products to promote the Company's performance growth".

According to the announcement, this product is a self-developed drug of the Company, with the specification of 2ml:1mg. It is mainly used to treat bronchial asthma, and it can also replace or reduce oral steroids. Budesonide, a kind of glucocorticoid, can treat asthma through its local anti-inflammatory effect. Inhalation therapy is the preferred treatment of asthma and other respiratory diseases. Inhalable drugs can directly get to the respiratory tract and lungs, so it has the advantages of fast onset, small dosage, and slight toxic and side effects. To date, the Company has directly invested RMB 30.6728 million in the R&D of this Budesonide Suspension for Inhalation in total.

Budesonide Suspension for Inhalation was initially developed and produced by AstraZeneca. It first came into the market in the UK in 1991, and entered the Chinese market in 2001, with the specifications of 2ml:1mg and 2ml:0.5mg, respectively. IQVIA sampling statistics estimated that the domestic sales amount of Budesonide Suspension for Inhalation has reached RMB 5.632 billion approximately in 2019. According to the website of the Center for Drug Evaluation, NMPA and Xanda® Data, domestic manufacturers of the drugs approved for the market currently include Nanjing Chia Tai Tianqing and Joincare, and another three domestic manufacturers have submitted their application.

Last year, Joincare had two varieties of inhalable drugs approved, including Levalbuterol and Compound Ipratropium Bromide. This year, it had another two varieties approved, namely, Ipratropium Bromide and Budesonide Suspension.

As reported, inhalable drugs take effect rapidly, with slight side effects. China's inhalable drug market is rising rapidly. However, due to higher barriers to the R&D of inhalable drugs, the vast majority of market shares are occupied by foreign-owned pharmaceutical enterprises in China. Joincare is one of the few companies in China that incorporate inhalable drugs into their core businesses.