China Sky One licenses breast-lesion drug

China Sky One Medical, a fully-integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China, has reached an agreement to purchase a proprietary drug from a local university for the treatment of breast lesions.

Heilongjiang Tianlong Pharmaceuticals, a subsidiary of the firm, will purchase the breast drug for 10.0 million renminbi ($1.46 million) from Harbin Medical University. The drug is intended to treat lobular hyperplasia in women, a type of mastitis that may lead to breast cancer. It is believed that lobular hyperplasia is brought about by stress, over work and an irregular, high-pressure lifestyle. There are currently no drugs on the market dedicated to treating the disease, which is estimated to affect 36 million women in China.

"We are very excited about the prospects for this drug, and estimate that it will generate 1.0 billion renminbi ($146.2 million) within five years once production begins," said Yan-Qing Liu, chief executive. "By acquiring this drug from Harbin Medical University, we will further strengthen and diversify our product line and enhance future profitability," he added.