Zhongchao Inc. Announces Drug Distributorship in China of Indian Generic Drugs of Natco Pharma Limited

Shanghai,China, January 4, 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 Chongqing Xinjiang Pharmaceutical Co., Ltd. ("Xinjiang Pharmaceutical"), one of the Chinese operating entities of which the Company consolidates the financial results with through certain contractual arrangements, will act as the drug distribution agent of certain
drugs produced by Natco Pharma Limited (“Natco”) within Mainland China pursuant to certain agreements. Natco is a vertically integrated and R&D focused pharmaceutical company in India.

Through this cooperation, Xinjiang Pharmaceutical will introduce different products from Natco
based on the needs of patients in China, for example, anti-influenza drugs during the flu season, and high demand anti-tumor and anti-rare diseases products. Both parties will work together to apply registration certificate of imported drugs and submit filings of sales agent, and will fully leverage their advantages and resources to effectively shorten the clinical trial approval and other processes and accelerate the progress of introducing quality drugs to the patients in China.

Weiguang Yang, Chairman and Chief Executive Officer of Zhongchao, commented, "We are thrilled to announce the cooperation with Natco. While we continuously focus on strengthening our service model of Medical-Pharmaceutical-Patient in the field of oncology and other major diseases, we consider it an important step to introduce quality
pharmaceutical products to the end market of China to benefit the patients.” Mr. Yang further adds, “Due to compulsory licensing requirement in India, Indian generic drugs have the characteristics of early market penetrationand good efficacy. Going forward, Xinjiang Pharmaceutical will continue to expand its drug import and export trade business, and introduce imported drugs based on the demands of Chinese patients and increase drug supply offerings. We have been committed to improving the drug accessibility and affordability for patients but bring in greater social economic benefits."

About Zhongchao Inc.

hongchao 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.

Aout NATCO PHARMA LIMITED
ATCO 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/.
No comments yetBe the first to add your insight!

Author

Related

Already have an account?