Hardman & Co Research: Shield Therapeutics (STX): Taking on China
Shield Therapeutics (STX) is a commercial-stage company delivering specialty products that address patients’ unmet medical needs, with an initial focus on treating iron deficiency (ID) with ferric maltol. Recent news that the FDA had approved this drug for a broad indication opened up a market in the US currently worth over $1bn p.a. On 8 January, STX announced a development and commercialisation licence deal in China with Beijing Aosaikang Pharmaceutical Co (ASK Pharm), whose local expertise should support approval and deliver strong licensing income in what is the world’s second largest pharmaceuticals market.
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