New long-term effect contraceptive announced

Edited by the Processingtalk editorial team May 14, 2004

Hubei Pharmaceutical Group announced today that its joint venture subsidiary, Hubei Pharmaceutical Company, located in Hubei Province, China has released Nuotinyu, a new long-term effect contraceptive

Hubei Pharmaceutical Group announced today that its joint venture subsidiary, Hubei Pharmaceutical Company, located in Hubei Province, China has released Nuotinyu a new long-term effect contraceptive.

This rounds out the company's birth control offerings to include, short term, long term and morning-after contraceptive forms and strengthens its position as a leading supplier of contraceptive products to the Chinese Government who recently favoured the company with a contraceptive order totalling 6 million RMB.

Development of the product was driven by market demand created in part by China's "one-child policy" recently adopted in law as the Law on Population and Family Planning, 2002 under which there has been significantly increased access to reproductive health services, particularly contraception.

Nuotinyu is viewed by the company as a strategic product in developing relationships with a larger base of national distributors following its appointment as a Selected Purchase Enterprise by the National Birth Control and Planning committee.

Hubei Pharmaceutical Group is engaged in the acquisition and consolidation of pharmaceutical development, production and distribution facilities in China.

Its first joint venture, Hubei Pharmaceutical Company, involves a minority partner with a 36-year history and includes continuity of management and production staff as well as the operational business unit.

It is licensed to produce a total of 120 pharmaceutical products approximately one third of which are currently commercialised.

It announced earlier this year that the transfer of production revenues from the operational business unit previously operated by its minority partner to the joint venture is complete making the Hubei Pharmaceutical Company joint venture subsidiary both operational and revenue producing.

This significant milestone was achieved in under a year.

The company expects to announce other significant milestones in the near future.