Navigation Links
China's Basic Medical Insurance to Cover Sinobiopharma's Flagship Product
Date:2/1/2010

NANTONG, China, Feb. 1 /PRNewswire-Asia/ -- Sinobiopharma, Inc. ("Sinobiopharma" or, the "Company") (OTC Bulletin Board: SNBP) is pleased to announce that the Chinese government has approved the Company's flagship product, KuTai (Cisatracurium Besylate), for coverage under National Basic Medical Insurance, Employment Injury Insurance and Maternity Insurance (2009 Edition).

KuTai (Cisatracurium Besylate), on the market since 2006, had not been covered by any medical insurance before the Chinese government granted approval for its inclusion on the list of insured drugs on November 27, 2009. Before coverage was approved, patients who chose KuTai, a lasted generation skeletal muscle relaxant used for surgery, did so at their own expense. National Basic Medical Insurance will now provide for patients to be reimbursed for any use of KuTai. Under China's healthcare reform plan, more than 90 percent of its urban population of 600 million will be covered by National Basic Medical Insurance by the end of 2010.

Typically, the Chinese government observes the performance of new generation drugs in the market for several years to ensure their safety and efficacy profile is well established before considering them for inclusion on the list of insured pharmaceuticals. Following Sinobiopharma's launch of this latest generation of muscle relaxant in China in 2006, KuTai has became one of the market growth leaders and is now used in more than 1,000 hospitals located in almost every province.

"We are very pleased that KuTai has finally been approved for insurance coverage," said Dr. Lequn Lee Huang, Sinobiopharma CEO. "All of KuTai's competitor drugs, earlier generation muscle relaxants, were covered by insurance. But even with this reimbursement disadvantage, KuTai still managed to gain significant market share because of its greater efficacy and superior safety profile. KuTai's inclusion on the list of insured drugs eliminates this reimbursement disadvantage. We expect the provision of insurance coverage will drive a significant increase in KuTai's sales volume and further gains in market share."

About Sinobiopharma

Sinobiopharma, Inc. is a fully integrated and highly innovative specialty biopharmaceutical company 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.

FORWARD LOOKING STATEMENTS

This news release may include "forward-looking statements" regarding Sinobiopharma, Inc., and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Sinobiopharma, Inc. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Sinobiopharma, Inc. does not undertake any obligation to update any forward looking statement, except as required under applicable law.

    For more information, please contact:

     Sinobiopharma, Inc.
     Investor Relations
     Tel:   +1-203-987-5632

SOURCE Sinobiopharma, Inc.


'/>"/>
SOURCE Sinobiopharma, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Four Basics and Some Good Information About Beta-Blocker Treatment for High Blood Pressure
2. New Survey Reveals Even After 12 Years of Living With Depression Adults Still Struggle Due to Lack of Basic Information
3. Basic Science Discoveries Yield Progress in Hepatology
4. Kibow Biotech Obtains Australian, Chinese and Indian Patents Protecting the Composition and Basic Technology Behind Its Oral Probiotic Formulation for Chronic Kidney Failure
5. MEDRAD and B. Braun Melsungen AG Collaborate to Promote Breakthrough Medical Treatment for Cardiovascular Disease
6. Millstone Medical Outsourcing Opens New, Advanced Clean Room to Expand Capacity for Sterile Packaging
7. Laerdal Medical and Medical Simulation Corporation Partner to Offer Integrated Training Courses for SimMan(R) Patient Simulators
8. Tenaxis Medical, Inc. Announces Completion of the Enrollment Phase of Their Pivotal Study
9. Home Medical Equipment Supplier ActivStyle, Inc. Acquires Tampa-Based Advocate Medical Services, Inc.
10. Northeast Alabama Regional Medical Center Selects Allscripts to Automate Emergency Department and Connect Caregivers
11. T-System Provides Free Medical Documentation Templates and Bi-Lingual Triage Questionnaires for Haiti Relief Medical Personnel
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/10/2017)... --  West Pharmaceutical Services, Inc. (NYSE: WST), a ... today shared the results of a study highlighting the ... administration of polio vaccines. The study results were presented ... by Dr. Ondrej Mach , Clinical Trials and ... and recently published in the journal Vaccine. i ...
(Date:10/4/2017)... , Oct. 4, 2017  According to the Centers for Disease ... end of October . PhysicianOne Urgent Care is helping communities across ... Westchester, NY , by offering no-cost* flu shots through the end ... mandated by certain health insurance regulations. ... The best time to get a flu shot is by the end ...
(Date:10/2/2017)... Oct. 2, 2017  AllianceRx Walgreens Prime, the combined ... Walgreens and pharmacy benefit manager Prime Therapeutics LLC (Prime), ... which included the unveiling of new signage at its ... well as at a few other company-owned facilities across ... to patients, some of whom will begin to see ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... ... The American Board of Family Medicine's (ABFM) Board of Directors has selected Warren ... James C. Puffer upon his retirement. Dr. Newton will serve in the position of ... end of 2018. Upon assuming the role of President and CEO on January 1, ...
(Date:10/13/2017)... (PRWEB) , ... October 13, ... ... School of Pharmacy (SOP) alumni Hannah Randall, PharmD ‘17, and Jennifer Huggins, ... professionals on guideline updates for the primary prevention of cardiovascular diseases during ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... Many families ... However, many long-term care insurance companies have a waiver for care if the client ... elimination period, when the family pays for care, is often waived, so the benefits ...
(Date:10/13/2017)... ... October 13, 2017 , ... Global Healthcare Management’s 4th Annual Kids Fun ... NJ. This free event, sponsored by Global Healthcare Management’s CEO, Jon Letko, is ... is geared towards children of all ages; it is a non-competitive, non-timed event, which ...
(Date:10/13/2017)... ... 13, 2017 , ... Coveros, a leader in agile coaching ... contract by the Center for Medicare and Medicaid Services (CMS). The Enterprise Agile ... of Agile methodologies in a consistent and high value manner across CMS programs. ...
Breaking Medicine News(10 mins):