Gan & Lee Pharma completes IPO in Shanghai
Beijing-based Gan & Lee Pharma listed its shares on the Shanghai Stock Exchange, raising $360 million from its IPO.
The Qiming-backed drug manufacturer’s history dates back to 1998, when it created China’s first recombinant human insulin, Gansulin. Since its inception, the company has focused on developing insulin-related products and newer generations of its analogues for the diabetes market. Last month, its third-generation insulin aspart was approved by China’s National Medical Products Administration, or NMPA.
According to the IPO prospectus, the company will use its IPO proceeds to expand its R&D projects, sales and marketing networks, and commercialize its products for the U.S. market.
The Qiming-backed drug manufacturer’s history dates back to 1998, when it created China’s first recombinant human insulin, Gansulin. Since its inception, the company has focused on developing insulin-related products and newer generations of its analogues for the diabetes market. Last month, its third-generation insulin aspart was approved by China’s National Medical Products Administration, or NMPA.
According to the IPO prospectus, the company will use its IPO proceeds to expand its R&D projects, sales and marketing networks, and commercialize its products for the U.S. market.
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