(Yicai) July 29 -- A new breast, pancreatic, and lung cancer drug developed by Kexing Biopharm, a Chinese maker of recombinant protein medicines, has been given the green light to enter the European market.

The European Commission approved Kexing's injectable albumin-bound paclitaxel, sold as Apexelsin, the Jinan-based company announced yesterday.

In February, Kexing said the European Medicines Agency sent a pre-approval of its on-site inspection of the related production line, and in May, the Norwegian Medical Products Agency issued the Chinese firm a good manufacturing practice certificate.

Nab-paclitaxel is recommended by the European Society for Medical Oncology to be used as a first-line option to treat metastatic pancreatic cancer and non-small cell lung cancer, and a second-line option to treat breast cancer.

Europe is aging and cancer is becoming more common. The most typical type of cancer among women in Europe was breast cancer in 2022, making up over 29 percent of all new cancers and nearly 17 percent of deaths caused by cancer among women.

The approval failed to spur a stock price hike as Kexing Biopharm [SHA: 688136] closed down 0.6 percent at CNY15.35 (USD2.10) in Shanghai today.

Editor: Emmi Laine