Sinobiopharma Inc
Sinobiopharma is a fully integrated and high growth company engaged in the R&D, manufacture and distribution of biopharmaceutical products.
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Sinobiopharma signs distribution contracts for flagship product
Sinobiopharma Inc (OTC:SNBP) said that in the first calendar quarter of 2010, it has signed 30 distribution contracts with agents totaling US$8.4 million for 2010 for distribution of its flagship product KuTai , a patented formulation of Cisatracurium Besylate that is one of the top-selling pre-surgical skeletal muscle relaxants in China.
KuTai distributors have coverage in more than 30 provinces throughout China and in most major cities.
Manufactured in China, the injectable Cisatracurium Besylate formulation was introduced in 2006. KuTai is not only lower in cost than GlaxoSmithKline's (LON:GSK) Nimbex injection but is also the only Cisatracurium Besylate that can be stored at room temperature, the company said. KuTai is now used in more than 1,000 hospitals in the country.
"We believe that as a pioneer drug in China, KuTai enjoys the benefit
of having a government sanctioned price premium as well as certain
exclusive marketing rights to hospitals," said Dr Lequn Lee Huang, the
company's CEO. "We expect that revenue and net profit will increase
considerably in 2010, not only because of our marketing efforts, but
also because healthcare reform is accelerating the growth of market
demand for pharmaceuticals."
Sinobiopharma is engaged in the
research and development, manufacture and marketing of biopharmaceutical
products in China, one of the world's fastest growing pharmaceutical
markets. Known as Dong Ying (Jiangsu) Pharmaceutical Co Ltd in China,
the company's current therapeutic focus is on anesthesia-assisted agents
and cardiovascular drugs.
Other Sinobiopharma Inc news
- Sinobiopharma gains approval for the use of Gabexate Mesylate as pharmaceutical raw material
2009-10-09 - Sinobiopharma appoints Chief Financial Officer and Director to the Board
2009-09-30 - Emissary starts coverage of Sinobiopharma with Buy target of $1.25
2009-09-22
