The Straits Times / The Business Times News on AsiaPharm

AsiaPharm poised to expand market share in the PRC

- Key drug to be listed under the National Health Insurance List
- Lutingnuo classified as a "National Leading New Product"

Dec 09, 2004

AsiaPharm Group Ltd., a leading specialty pharmaceutical group in the PRC, today announced that one of its key drugs - Elcatonin for Injection - has been listed amongst the approved drugs under the "National Health Insurance List". This decision is made by the PRC's Labour and Social Security Department.

Said Mr Liu Dianbo, Executive Chairman of AsiaPharm "With the acceptance of Elcatonin for Injection into the National Health Insurance List, we expect to see wider usage and applications of this drug in the hospitals. We are confident that it has the potential to grow rapidly in the near future. This will further strengthen our position in the specialty pharmaceutical industry."

Elcatonin for Injection, which is used for the treatment of osteoporosis, joins the rest of AsiaPharm¡'s key drugs, including Maitongna, Lutingnuo and Nuosen to be listed within the "National Health Insurance List". Shandong Luye is currently the only manufacturer of Elcatonin for Injection in the PRC.

In addition, one of the Group's fastest growing drugs, Lutingnuo. Reduced Glutathione for Injection, has been classified as a "National Leading New Product" by four state departments, namely the Ministry of Science and Technology, the Ministry of Trade, the State Quality Technology Supervisory Bureau and the State Environmental Protection Bureau.

Both the Group's core drugs, Maitongna and Nuosen have also been given the prestigious award, the "National Leading New Product", given out by the state departments.

"We have seen exceptional growth in the sales of Lutingnuo®, which was launched in early FY2003. Our fastest growing drug, Lutingnuo overtook the rest of our products, with its 409.6% jump in sales in the third quarter of FY2004. We expect this classification to further drive the growth in demand for Lutingnuo," commented Mr Liu Dianbo.

Lutingnuo® Reduced Glutathione for Injection is used in the field of hepatology for the treatment of liver ailments such as acute alcoholic hepatitis, alcoholic hepatic fibrosis and liver cirrhosis and as antioxidants. It also reduces toxins from chemical treatments on tumour patients.