China Pharma Holdings, Inc. Announced the Completion of Third Party Testing of Dry Eye Disease Therapeutic Device

Rhea-AI Summary

China Pharma Holdings, Inc. (NYSE American: CPHI) announced that its Dry Eye Disease (DED) therapeutic device has passed third-party testing and is preparing to apply for market launch to the National Medical Products Administration (NMPA) of China. The company aims to tap into the growing market of DED, which affects approximately 344 million patients worldwide, with an annual increase of 10%.

HAIKOU, China, Nov. 29, 2023 /PRNewswire/ -- China Pharma Holdings, Inc. (NYSE American: CPHI) ("China Pharma", or the "Company"), an NYSE American-listed corporation with a fully-integrated specialty pharmaceuticals subsidiary based in China, today announced that its Dry Eye Disease (DED) therapeutic device has passed third-party testing and is preparing to apply for market launch to the National Medical Products Administration (NMPA) of China.

According to a disclosure by the Shanghai Public Health Clinical Center on June 6, 2023, an epidemiological survey of DED showed that approximately 344 million patients are suffering from DED worldwide, accounting for 30% of the total number of ophthalmic outpatient visits, with an annual increase of 10%. There are about 80 million DED patients in China, ranking second in ophthalmic diseases.

• This device has a utility model patent;
• Epidemiological research shows that the incidence rate of DED for all the  people in China is about 25% to 30%, and about 75% for people over 65-year-old;
• In the field of DED and visual fatigue, this product is expected to fill in the market gap of medical therapeutic apparatus; and
• The Company has established sales channels in more than 30 provincial and municipal hospitals, as well as OTC markets in China for more than 20 years. This sales network may strongly support the launch and promotion of this device.

Ms. Li Zhilin, CEO of China Pharma said: " After passing third-party testing, this product has obtained qualifications to apply for market approval from NMPA. We are actively working to try to launch this product in the first half of next year. We are confident that with the patented technological advantages and our sales channels, the launch of this product will bring excellent treatment experience to every DED patient, which will create value for our shareholders."

About China Pharma Holdings, Inc.

China Pharma Holdings, Inc. is a specialty pharmaceutical company that develops, manufactures and markets a diversified portfolio of products, focusing on conditions with high incidence and high mortality rates in China, including cardiovascular, CNS, infectious, and digestive diseases. The Company's cost-effective business model is driven by market demand and supported by new GMP-certified product lines covering the major dosage forms. In addition, the Company has a broad and expanding nationwide distribution network across all major cities and provinces in China. The Company's wholly-owned subsidiary, Hainan Helpson Medical & Biotechnology Co., Ltd., is located in Haikou City, Hainan Province. For more information about China Pharma Holdings, Inc., please visit www.chinapharmaholdings.com. The Company routinely posts important information on its website.

Safe Harbor Statement

Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: the achievability of financial guidance; success of new product development; unanticipated changes in product demand; increased competition; downturns in the Chinese economy; uncompetitive levels of research and development; and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations, except as required by applicable law or regulation.

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SOURCE China Pharma Holdings, Inc.

FAQ

What did China Pharma Holdings, Inc. announce regarding Dry Eye Disease (DED)?

China Pharma Holdings, Inc. announced that its DED therapeutic device has passed third-party testing and is preparing to apply for market launch to the NMPA of China.

What is the ticker symbol for China Pharma Holdings, Inc.?

The ticker symbol for China Pharma Holdings, Inc. is CPHI.

How many patients worldwide are suffering from Dry Eye Disease (DED)?

Approximately 344 million patients worldwide are suffering from DED.

What is the annual increase in the number of patients suffering from Dry Eye Disease (DED)?

The annual increase in the number of patients suffering from DED is 10%.