Navigation Links
Weikang Bio-Technology Announces Inclusion of Ranitidine Hydrochloride Capsule on National Drug Reimbursement List
Date:1/27/2011

HARBIN, China, Jan. 27, 2011 /PRNewswire-Asia/ -- Weikang Bio-Technology Group Co., Inc. (OTC Bulletin Board: WKBT) ("Weikang" or the "Company"), a leading developer, manufacturer and marketer of Traditional Chinese Medicine (TCM), Western prescription and OTC pharmaceuticals and other health and nutritional products in the People's Republic of China, today announced that one of its products, Ranitidine Hydrochloride Capsule, has been added to the National Drug Reimbursement List ("NDRL") by China's Ministry of Human Resources and Social Security.

Patients covered under the national healthcare system are reimbursed for 70% to 90% of the cost of medications included on the NDRL. The list was updated in 2009 following the approval of China's $124 billion healthcare reform package, which aims to provide national healthcare coverage to at least 90% of the population by the end of 2011.  

Ranitidine Hydrochloride Capsule, a prescription-strength generic formulation of Zantac, is formulated to treat duodenal ulcers, gastric ulcers, gastroesophageal reflux disease and other gastric conditions. The product accounted for approximately 2.6% of Weikang's annual sales in 2010.Mr. Yin Wang, Chairman and CEO of Weikang, stated, "We expect the inclusion of our ranitidine hydrochloride capsule on the NDRL to broaden our potential customer base and help drive product sales. Under China's national healthcare reform plan, millions of patients will be able to afford and access high-quality medications, creating a huge addressable market for our products. We will continue to expand our distribution network and develop our product pipeline to capitalize upon national healthcare reform initiatives."

About Weikang Bio-Technology Group Co., Inc.Weikang Bio-Technology Group Co., Inc. is principally engaged in developing, manufacturing and distributing Traditional Chinese Medicine (TCM), and health and nutritional supplements in China, in compliance with requisite Chinese licenses and approvals. The Company is also expanding its business scope to develop, manufacture and distribute Chinese herbal extract products and GMP certified western prescription and OTC pharmaceuticals through its acquisition of Tianfang Pharmaceutical Co., Ltd.  For more information, please visit http://www.weikangbio.com.

Safe Harbor StatementCertain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995.  These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.Investor Relations Contact:Paul Kuntz, Senior SpecialistRedChip Companies, Inc.Tel: +1-800-733-2447, Ext. 0Email: info@redchip.comJing Zhang, Chief RepresentativeRedChip Companies Beijing OfficeTel: +86 10-8591-0635Web: http://www.RedChip.com
'/>"/>

SOURCE Weikang Bio-Technology Group Co., Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Weikang Bio-Technology Expects to Report Fiscal 2010 Revenue of $77.8 Million and Net Income of $31.2 Million or $1.04 Earnings per Share
2. Weikang Bio-Technology Plans to Launch New Therapeutics in First Quarter 2011
3. Weikang Bio-Technology to Present at Global Hunter 2010 China Conference on July 13, 2010
4. Weikang Bio-Technology Announces Filing for NASDAQ Listing
5. Weikang Bio-Technology Reports First Quarter 2010 Financial Results
6. Boston Scientific Announces First Use of Blazer® Open-Irrigated Catheter in U.S.
7. Video From AstraZeneca Available on thenewsmarket.com: AstraZeneca Announces Fourth Quarter and Full Year Results 2010
8. Sigma-Aldrich Corporation Announces Q4 2010 Conference Call
9. Robbins Geller Rudman & Dowd LLP Announces Notice of Hearing to Determine Approval of Proposed Settlement of Class Action
10. Perrigo Company Announces Quarterly Dividend
11. Talyst Announces New Executive to Its Leadership Team
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/14/2017)... , June 14, 2017  ivWatch LLC, a ... effectiveness of intravenous (IV) therapy, is pleased to announce ... category of Nonsurgical Hospital Supplies and Equipment at the ... program for the medtech industry. The award was presented ... Jacob K. Javits Center in New York ...
(Date:6/13/2017)... Ind. , June 13, 2017 Zimmer Biomet ... musculoskeletal healthcare, today announced that the U.S. Food and Drug ... dated June 3, 2015 relating to its Zhejiang, ... "The successful clearance of the ... manufacturing facility is a measure of the progress ...
(Date:6/10/2017)... Burchfield, DPM, is recognized by Continental Who,s Who as a Pinnacle ... Alabama . Dr. Burchfield serves as a ... 20 years of experience, as well as expertise in the areas ... "The podiatry professional   ... welcome you to his practice," the company,s website states. "We want ...
Breaking Medicine Technology:
(Date:6/23/2017)... ... ... 21 Middle East and South Asia Leaders Selected as Eisenhower Fellows , ... society in 11 countries across the Middle East and South Asia to embark on ... knowledge and ideas with the leading minds in their fields. , For the ...
(Date:6/23/2017)... (PRWEB) , ... June 23, 2017 , ... ... with Private Flood Insurance offerings. With the Federal Emergency Management Agency’s (FEMA) recent ... across the United States. In 2012, the Biggert-Waters Act was enacted to reflect ...
(Date:6/23/2017)... ... June 23, 2017 , ... The Katyl ... services to families and business owners in and around Lackawanna County, is joining ... citizens in the area. , Meals on Wheels of NEPA provides hand-delivered and ...
(Date:6/23/2017)... ... June 23, 2017 , ... Radabaugh & Associates, ... families and business owners in North Central West Virginia, is embarking on a ... differently abled residents in the region. , The Stepping Stones organization offers a ...
(Date:6/22/2017)... ... , ... Plastic Surgery Associates is proud to report that founding surgeon, Francisco ... and information firm, Castle Connolly, releases their list of the most notable and trusted ... time that Dr. Canales has been recognized by Castle Connolly. , ...
Breaking Medicine News(10 mins):