Shares of Fosun Pharma (HKG:2196, SHA:600196) soared over 5% on Thursday, after the company's subsidiary received approval from China's medical regulator for a new anti-anxiety drug. The approval could provide a significant boost to Fosun Pharma's product portfolio and future revenue prospects.

The drug, venlafaxine hydrochloride sustained-release tablets, has been approved for the treatment of depression, including depression with anxiety, and general anxiety disorder. This approval marks an important milestone for the company as it looks to expand its presence in the lucrative Chinese pharmaceutical market.

Fosun Pharma is a leading pharmaceutical company in China, with a diverse range of products spanning various therapeutic areas. The company has a strong focus on research and development, and has been actively seeking regulatory approvals for new drugs to drive long-term growth.

The approval of the new anti-anxiety drug is particularly significant given the growing prevalence of mental health issues in China. As the country's population ages and stress levels increase, demand for effective treatments for conditions like anxiety and depression is expected to rise substantially. Fosun Pharma's new offering could position the company to capture a significant share of this growing market.