Zhongchao Inc. Announces Introduction of Indian Anti-influenza Drugs to China
Zhongchao Inc. (NASDAQ: ZCMD) announced that its subsidiary, Chongqing Xinjiang Pharmaceutical Co., Ltd., secured distribution rights for the anti-influenza drug Naiditawei® (Oseltamivir Phosphate Capsules) from Natco Pharma Limited. The drug will be available in multiple strengths and is covered by medical insurance in China. Following its arrival in Chongqing, the Capsules will support the treatment and prevention of influenza A and B. The company aims to enhance its distribution through retail channels and online platforms in response to increasing demand for therapeutic drugs post-COVID-19.
- Acquisition of distribution rights for Naiditawei® expands product range.
- Drug covered by medical insurance facilitates access for patients.
- Plans to introduce more batches of the drug throughout the year.
- None.
SHANGHAI, Jan. 31, 2023 /PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or the "Company"), a platform-based internet technology company offering services to patients with oncology and other major diseases, today announced that that Chongqing Xinjiang Pharmaceutical Co., Ltd. ("Xinjiang Pharmaceutical"), one of the China operating entities, of which the Company consolidates the financial results with through certain contractual arrangements, obtained the general distribution rights in Mainland China for anti-influenza drug from Natco Pharma Limited ("Natco"). Natco is a vertically integrated and R&D focused pharmaceutical company in India. The first batch of cargo has arrived at the port in Chongqing City, and the drug will be introduced to the market for domestic treatment and prevention of Type A and Type B influenza viruses after the inspection and quarantine.
The anti-influenza drug introduced by Xinjiang Pharmaceutical is Naiditawei®, commonly known as Oseltamivir Phosphate Capsules (the "Capsule"). Oseltamivir Phosphate is approved by FDA in United States for the treatment of flu (influenza Type A and Type B). The Capsule introduced by Xinjiang Pharmaceutical will be available in 75mg, 45mg and 30mg sizes to ensure accurate dosage for patients. The Capsule can be used by children, teenagers and adults with Type A and Type B influenza. In addition, the Capsule can be taken with water or other beverages for easier consumption to improve patient compliance. The Capsule belongs to Medical Insurance Category B products in China, which is covered by medical insurance, and it is one of the national anti-influenza reserve drugs.
Weiguang Yang, Chairman and Chief Executive Officer of Zhongchao, commented, "the registration and listing of foreign drugs in China is an important means to address the clinical needs of patients. With the gradual ease of the pandemic prevention and control policy in China and the superimposed epidemic of Covid-19 and influenza, the demand for related therapeutic drugs is huge. We plan to introduce more batches of oseltamivir phosphate capsules this year. We intend to access the end retail market through offline retail channel of hospitals, partner pharmacies and distribution teams, and online channel of the pharmaceutical 2B2C (to-business & to-consumer) procurement platform of our Zhixun Internet Hospital. We expect to continue seeking partnerships with more oversea suppliers for quality and reliable medicines, and improving our distribution channels to better and more quickly fulfill the needs of patients in China."
About Zhongchao Inc.
Zhongchao Inc. is an offshore holding company incorporated in the Cayman Islands. It conducts operations in China through the contractual arrangements between its wholly owned subsidiary and PRC operating entities. Zhongchao Inc. is a platform-based internet technology company offering services to patients with oncology and other major diseases. The PRC operating entities provide online healthcare information, professional training and educational services to healthcare professionals under their "MDMOOC" platform (www.mdmooc.org), offer patient management services in the professional field of tumor and rare diseases through Zhongxin, offer internet healthcare services through Zhixun Internet Hospital, and pharmaceutical services through Xinjiang Medical and operate an online information platform, Sunshine Health Forums, to general public. More information about the Company can be found at its investor relations website at http://izcmd.com.
About NATCO PHARMA LIMITED
NATCO PHARMA LIMITED, founded in Hyderabad, India, in 1981, is a vertically integrated and R&D focused pharmaceutical company engaged in developing, manufacturing and marketing of finished dosage formulations ("FDF") and active pharmaceutical ingredients ("APIs"). Its focus is primarily on niche therapeutic areas and complex products. The company markets and distributes its products in over 40 countries. It currently has seven manufacturing plants and modern R&D laboratories in India, one R&D center, four subsidiaries in Brazil, Canada, Singapore and New Zealand, and over 4,000 employees worldwide. More information can be found at https://www.natcopharma.co.in/.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the professional training and educational services market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC, the length and severity of the recent coronavirus outbreak, including its impacts across our business and operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
At the Company: Pei Xu, CFO
Email: xupei@mdmooc.org
Phone: +86 21-3220-5987
Investor Relations: Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
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SOURCE Zhongchao Inc.
FAQ
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