BRIEF—Hengrui establishes new biotech company

Chinese drugmaker and distributor Jiangsu Hengrui Medicine's subsidiary in Shanghai and Hengrui's chairman Sun Piaoyang have formed a new biotech company - Rui Li Di – based in Shanghai with a registered capital of 100 million renminbi ($14.2 million), of which 60 million renminbi will come from from Hengrui and 40 million renminbi from Dr Sun.

The new company will focus on the development and commercialization of antiviral drugs.

In a statement, Hengrui said the move will enrich Hengrui's current pipeline, which focuses on cancer, cardiovascular disease and surgery medications.