Sino Biopharmaceutical Limited, or Sino Biopharm, a China-based Hang Seng Index company, and Boehringer Ingelheim, a global biopharmaceutical company, announced on Monday that they had entered into a strategic partnership focusing on bringing innovative cancer therapies to China, marking an important milestone in Sino Biopharm's internationalization efforts.

According to the strategic collaboration agreement, the cooperation covers a few drugs from Berger Ingelheim, including three drug candidates undergoing clinical trials and several under early-stage research and development.

Mohammed Tawil, president and CEO of Boehringer Ingelheim Greater China, said: "We are excited about partnering with Sino Biopharm. The company's strong commercial capabilities and deep market knowledge in China stand out as complementary strengths to Boehringer Ingelheim's leading innovation and robust pipeline in oncology, making it an ideal partnership for us to deliver innovative therapies to patients in need, better and faster."

Sino Biopharm has made a dual-cycle development plan of "In China for Global" and "In Global for Global". Eric Tse, CEO of Sino Biopharm, said that the company is committed to becoming the best partner in China for global pharmaceutical companies, improving access to innovative, international drugs in China through its extensive sales network, strong production and R&D capabilities.

Sino Biopharm has entered a period of intensive harvest of innovative products, with innovative product revenue reaching a historic high of 9.89 billion yuan ($1.37 billion) in 2023.

According to Insight database, nearly 3,000 clinical-stage innovative drug projects have made progress around the world throughout 2023, while Sino Biopharm ranks fifth with development in more than 30 new drugs.