How do we describe valuable things? Generally, we say they are more expensive than gold. Currently, the price of gold is about RMB 350 per gram, but the price of Hemoporfin produced by Taizhou Fudan-Zhangjiang Pharmaceutical Co., Ltd. (Fudan-Zhangjiang) is RMB 4980 per vial (only 0.1 gram), 142 times the gold's!
Why is this drug so expensive? Because this pharmaceutical company has this drug's independent pricing power due to its unique position in the industry, which won't be replaced because of a price change.
Hemoporfin, produced by Fudan-Zhangjiang, is the world's first drug for nevus flammeus and one of the 2 Category 1.1 new drugs cross China (only one in Jiangsu) that gained production approval in 2016. (Category 1.1 new drugs are crude drugs or preparations made by synthetic or semi-synthetic methods that have not yet been marketed at home and abroad.)
Nevus flammeus, commonly known as "firemark", is a congenital capillary malformation that can present anywhere, mainly face and neck. Its incidence in newborns is as high as 3/1000.
"There are no competitors in the market, so we have the final say on how much we sell." Deputy General Manager Chen Yu of Fudan-Zhangjiang said, "People often say 'it takes ten years to grind a sword', but it took us 15 years to develop this drug, with many researchers staying up night after night in the laboratory."
In last November Fudan-Zhangjiang's Hemoporfin gained the GMP certificate and was officially put into production. Currently, the first 1,000 Hemoporfi vials have been launched in the market. Hemoporfi's output value is estimated to reach RMB 120 million this year.