China's NMPA halts imports, sales and use of Abraxane supplied by Celgene

25 March 2020

Sino-America immuno-oncology biotech firm BeiGene (Nasdaq: BGNE) today announced that, on March 25, 2020, the China National Medical Products Administration (NMPA) suspended the importation, sales and use of Abraxane (nanoparticle albumin-bound paclitaxel) in China supplied to BeiGene by Celgene, now a Bristol-Myers Squibb (NYSE: BMS) company.

The news sent the firm’s shares down by 4.6% to $123.11 by early-afternoon New York trading.

This suspension is based on inspection findings at B-MS’ contract manufacturing facility of Fresenius Kabi in the USA. As a result, BeiGene expects a disruption in Abraxane supply in China and is working closely with B-MS to restore supply as soon as possible, including through BMS’s remediation efforts at the current manufacturing site and application to qualify an alternative manufacturing site for China supply.

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