A new lipid-lowering drug developed by Zhejiang Hisun Pharmaceutical Co Ltd recently obtained production approval, local media reported.

The drug is used for the treatment of primary hypercholesterolemia by inhibiting the intestinal absorption of cholesterol.

It will enter the market as a national class 1 new drug. Class 1 represents the highest level of drug innovation in China's drug registration classification. 

Hisun has inveted 289 million yuan ($44.46 million)  in the drug's research and development to date. Its launch is expected to further enrich Hisun's product portfolios and improve its market competitiveness.

Ezetimibe, a lipid-lowering drug developed by Merck, is its main rival on the market. Statistics from IMS Health Inc show that Ezetimibe and its compounding formulations achieved $3.697 billion in sales in 2020. Currently, two domestic companies have been approved to produce Ezetimibe and its generic drugs.

Established in 1956, Hisun is committed to the development, manufacturing, and commercialization of pharmaceutical products, with a focus on Active Pharmaceutical Ingredients (APIs), generics, as well as animal health products.

Favipiravir, produced by the Taizhou-based company, was listed among the first batch of potential drugs in China to treat COVID-19 in 2020.