Shanghai Fosun Pharmaceutical : OVERSEAS REGULATORY ANNOUNCEMENT - Announcement in Relation to the Receipt of Approval for Clinical Trial by a Subsidiary

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上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司

Shanghai Fosun Pharmaceutical (Group) Co., Ltd.*

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 02196)

OVERSEAS REGULATORY ANNOUNCEMENT

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The following sets out the ''Announcement in Relation to the Receipt of Approval for Clinical Trial by

1. Subsidiary'' published by Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* (the ''Company'') on the website of the Shanghai Stock Exchange, for your reference only. The following is a translation of the abovementioned announcement solely for the purpose of providing information. Should there be any discrepancies, the Chinese version will prevail.

By order of the Board

Shanghai Fosun Pharmaceutical (Group) Co., Ltd.*

Chen Qiyu

Chairman

Shanghai, the People's Republic of China

11 March 2020

As at the date of this announcement, the executive directors of the Company are Mr. Chen Qiyu, Mr. Yao Fang and Mr. Wu Yifang; the non-executive directors of the Company are Mr. Xu Xiaoliang and Ms. Mu Haining; and the independent non- executive directors of the Company are Mr. Jiang Xian, Dr. Wong Tin Yau Kelvin, Ms. Li Ling and Mr. Tang Guliang.

• for identification purposes only

Stock code: 600196	Stock abbreviation: Fosun Pharma Announcement No.: 2020-023
Bond code: 136236	Bond abbreviation:16 Fosun 01
Bond code: 143020	Bond abbreviation:17 Fosun 01
Bond code: 143422	Bond abbreviation:18 Fosun 01
Bond code: 155067	Bond abbreviation:18 Fosun 02
Bond code: 155068	Bond abbreviation:18 Fosun 03

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. Announcement in Relation to the Receipt of Approval for Clinical Trial by a Subsidiary

The board of directors (the "Board") of the Company and all members of the Board warrant that this announcement does not contain any false information, misleading statement or material omission, and severally and jointly accept full responsibility for the truthfulness, accuracy and completeness of the contents herein contained.

I. Overview

Recently, Shanghai Fosun Pharmaceutical Industrial Development Company Limited* (上海復星醫藥產業發展有限公司) ("Fosun Pharma Industrial"), a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* (the"Company"), has received the approval for clinical trial for Tenapanor tablets (dosage: 10mg/20mg/30mg) (the "New Drug") for the treatment of hyperphosphatemia in end-stage renal disease - hemodialysis (ESRD-HD) patients from the National Medical Products Administration (the "NMPA"). Fosun Pharma Industrial intends to conduct phase III clinical trial for such indication in the PRC (excluding Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan Region, similarly hereinafter) upon meeting the conditions shortly.

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II. Research Progress of the New Drug

In December 2017, Fosun Pharma Industrial entered into an exclusive license with Ardelyx, Inc. ("Ardelyx") for the clinical development and commercialization of the New Drug in the regions (including the PRC, and Hong Kong and Macau Special Administrative Regions, similarly hereinafter), and Ardelyx remains the license holder of the New Drug in the regions. The New Drug is a chemical drug which is mainly developed for the treatment of irritable bowel syndrome with constipation and hyperphosphatemia in the end-stage renal disease dialysis patients.

In September 2019, the U.S. FDA (i.e. U.S. Food and Drug Administration, similarly hereinafter) granted approval to Ardelyx for marketing Tenapanor tablets as a medicine for the treatment of irritable bowel syndrome with constipation. In December 2019, the phase I clinical trial application for the New Drug for the treatment of irritable bowel syndrome with constipation was approved by the NMPA.

As at the date of this announcement, the phase III clinical trial of Tenapanor tablets of Ardelyx for the treatment of hyperphosphatemia in the end-stage renal disease dialysis patients was ongoing in the United States.

As at the date of this announcement, the drugs for the treatment of hyperphosphatemia in the end-stage renal disease dialysis patients in the PRC mainly include Renvela® (Sevelamer) and Fosrenol® (Lanthanum). According to the latest data from IQVIA CHPA provided by IQVIA, a global leading provider of professional information and strategic consulting services for the pharmaceutical and healthcare industry, the sales of these drugs amounted to approximately RMB624.38 million in 2019 in the PRC.

As at the end of February 2020, the cumulative R&D investment of the Group (i.e. the Company and its subsidiaries/units) in the New Drug for the treatment of irritable bowel syndrome with constipation and hyperphosphatemia in the end-stage renal disease dialysis patients was approximately RMB100.80 million (unaudited; licensed fees included) at this stage.

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III.Risk Warning

Based on our experience in new drug development, there are certain risks in new drug development. For example, clinical trials may be terminated due to issues such as safety and/or efficacy.

As required by the laws and regulations related to drug review and approval in China, the New Drug is subject to, among others, (1) completion of clinical trial for Tenapanor tablets of Ardelyx for the treatment of hyperphosphatemia in the end-stage renal disease dialysis patients as well as application, registration and approval for marketing from U.S. FDA; and (2) a series of clinical studies and the approval from the national drug evaluation authority in the PRC before it can be marketed.

The development and marketing of new drugs is a long-term task involving various uncertainties. Investors are reminded of the investment risks.

Announcement is hereby given.

Board of Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* 11 March 2020

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