CPHI - China Pharma Holdings, Inc. Receives Approval for Granisetron Hydrochloride Injection
Monday October 9, 11:41 am ET
HAIKOU CITY, China, Oct. 9 /Xinhua-PRNewswire/ -- China Pharma Holdings, Inc. ("China Pharma") (OTC Bulletin Board: CPHI.OB - News) today announced it had received approval from the Chinese State Food and Drug Administration (SFDA) to manufacture and market its Granisetron Hydrochloride Injection product.
Granisetron hydrochloride is indicated for the prevention of nausea and vomiting associated with radiation treatment and chemotherapy in cancer patients. It is a highly selective receptor antagonist against 5-hydroxytryptamine 3(5-HT3), which is produced during chemotherapy and radiation treatment that triggers emetic reactions in these patients. Granisetron hydrochloride is a prescription drug and is administered within 30 minutes before initiation of chemotherapy treatment. China Pharma intends to market this product exclusively within the greater China area. Currently, the sales statistics for granisetron products in China are not available; however, the market for injectable granisetron hydrochloride is valued over $1 billion in the U.S. and Canada.
"This new approval underlines the breadth of our product portfolio and pipeline development," commented Zhi-lin Li, President and CEO. "It adds a new dimension to our current extensive product line that treats a wide range of diseases and conditions in the Chinese population, including cardiovascular, CNS and infectious diseases. This product supports our strategy of growth through product development."
About China Pharma Holdings, Inc.
China Pharma Holdings, Inc. develops, manufactures, and markets generic and brand bio-pharmaceutical products in China that treat a wide range of conditions, including infections, hepatitis, vascular diseases, CNS and other prevailing diseases. Helpson Bio-pharmaceutical Co., Ltd (Helpson), a specialty bio-pharmaceutical company headquartered in Haikou City, Hainan province in China, is a wholly owned subsidiary of China Pharma Holdings.
Safe Harbor Statement 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, which may include, but are not limited to, such factors as unanticipated changes in product demand, increased competition, failure to obtain or maintain intellectual property protection, downturns in the Chinese economy, uncompetitive levels of research and development, failure to obtain regulatory approvals, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission.
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Source: China Pharma Holdings, Inc.
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