China Pharma Holdings Inc, a prominent NYSE American-listed corporation boasting a fully-integrated specialty pharmaceuticals subsidiary based in China, made a significant stride today as it announced the successful completion of third-party testing for its Dry Eye Disease (DED) therapeutic device. The company is now gearing up to seek market approval from the National Medical Products Administration (NMPA) of China. In response to this development, the stock of China Pharma Holdings experienced an upward surge in trading on Wednesday.
At the time of this publication, China Pharma Holdings Inc stock (CPHI) has witnessed a surge.
China Pharma Holdings Inc
Current Price: $0.18
Change : +0.08
Change (%): (84.67%)
Volume: 91.5M
Source: Tomorrow Events Market Data
The Shanghai Public Health Clinical Center disclosed on June 6, 2023, that an epidemiological survey focusing on DED revealed a staggering global affliction of approximately 344 million patients. This comprises 30% of the total ophthalmic outpatient visits, with an annual increase rate of 10%. Notably, China contributes significantly to these numbers, with around 80 million DED patients, positioning it as the second-highest in ophthalmic diseases.
The DED therapeutic device under scrutiny holds a utility model patent, signifying a unique and innovative approach. Epidemiological research indicates a DED incidence rate of 25% to 30% for the entire Chinese population, escalating to 75% for individuals aged 65 and above. The product is poised to address a market gap in medical therapeutic apparatus for DED and visual fatigue, offering a promising solution.
With an extensive track record spanning over 20 years, China Pharma Holdings has cultivated a robust sales network encompassing more than 30 provincial and municipal hospitals, as well as over-the-counter (OTC) markets across China. This well-established sales infrastructure positions China Pharma favorably for the impending launch and promotion of the DED therapeutic device.
Commenting on this milestone, Ms. Li Zhilin, the CEO of China Pharma Holdings, expressed optimism about the potential impact of the product. She stated, “After successfully passing third-party testing, this product has gained the qualifications to seek market approval from NMPA. We are actively working towards a prospective launch in the first half of next year. With confidence in our patented technological advantages and the strength of our sales channels, we believe the introduction of this product will deliver an outstanding treatment experience to every DED patient, thereby creating substantial value for our shareholders.”
The announcement marks a significant advancement in the healthcare sector, reflecting China Pharma Holdings’ commitment to addressing the growing prevalence of Dry Eye Disease. As China Pharma navigates the regulatory process with the NMPA, anticipation is high for the positive impact the DED therapeutic device could have on patients and investors alike.
