Tianyin receives production license for diabetes drug
Tianyin Pharmaceuticals (AMEX:TPI) announced Wednesday it has received a production license from China's State Food and Drug Administration for its anti-diabetic drug, Gliclazide.
Gliclazide, an 80 milligram tablet, is an oral drug used when proper diet and exercise fail to reduce blood sugar levels, or when patients are ineligible for traditional insulin treatments.
Diabetes refers to a group of metabolic diseases characterized by high blood sugar, and either a lack of insulin production, or failure on the body's part to respond properly to insulin. The disease causes frequent urination and increased levels of thirst and hunger if not treated.
In 2010, there were 95 million diagnosed cases of diabetes in China.
Gliclazide, which is currently patented in Canada, India and the Philippines, works by binding to cell receptors in the pancreas and decreases the amount of potassium in the cell, creating an influx of calcium and causing the cell to release insulin.
Tianyin, which specializes in modernizing traditional Chinese medicines, also announced that its drug has been listed on the National Medical Reimbursement List of China, bringing the company's total number of drugs on the list to 24.
News of Gliclazide's impending marketplace entry, slated for July, caused shares in the Chengdu, China-based company to increase 0.58%, trading at $1.73 per share as of noon EST on Wednesday.
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