Shineway's OTC products made their way into 780 pharmacy chains
A key strategic focus for Shineway in 2018 is the collaboration with national pharmacy chains. In the first 5 months, products such as Shineway's Huo Xiang Zheng Qi Soft Capsule, Wu Fu Xin Nao Qing Soft Capsule, and Pediatric Qing Fei Hua Tan Granule and many more, have successfully made their way into 780 pharmacy chains (including 44 large national chains), leading to significant surge in sales of OTC products to chained pharmacy stores.
Other Shineway news:
1. In May 2018, several provinces abandoned the low-price drug approval requirement so that such medications are no longer required to first enter into low price drugs catalogue. Hence, TCM with consumption not more than RMB 5 daily, are to be procured according to the relevant low-price drug policy and not subject to tendering. Qing Kai Ling Injection, as a beneficiary of such policy change, is accelerating its price hike in the relevant provinces.
2. Shineway's TCM Formula Granules were officially launched at the Cangzhou Hospital of Integrated TCM and Western Medicine of Hebei Province in May 2018. A total of 6 highly efficient smart medicine dispensing system new models were installed and each system can handle 100 prescriptions per day. The hospital is among the first batch of Class III-A integrated hospitals in China. It is also one of the ten key integrated TCM & western medicine hospitals of the nation, and by far the largest in scale of collaboration by Shineway.
3. In May 2018, Anhui's Ministry of Human Resources and Social Security released the 2018 Provincial Drug Reimbursement List, with Shineway's Shujin Tongluo Granule and Jiangzhi Tongluo Soft Capsule admitted into the list as Category B reimbursable products. The admission is expected to further raise the profile of these two products in Anhui Province, as well as driving their consumption and sales.
For more information, please contact Mr. Randy Hung, Director of Investor Relations via email [email protected].hk
26/06/2018 Dissemination of a Financial Press Release, transmitted by EQS Group.
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