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January
22 - Renhuang Pharmaceuticals Announces Breakthrough in Study of New
Form of Anti-Depression Chinese Medicine: Lyophilized Syringin Powder
for Injection
Renhuang
Pharmaceuticals, Inc. (OTCBB: RHGP) (“Renhuang” or the “Company”), a
leading Chinese integrated drug developer, manufacturer and
distributor, announced the successful laboratory production of
lyophilized syringin powder, its new powder injection anti-depression
and fatigue drug. Renhuang expects this new drug to become its next
revenue growth driver. At 90% purity, the syringin portion in the
sample drugs meets the criteria of the State Food and Drug
Administration (SFDA). Renhuang is expected to soon start clinical
trials to evaluate both the efficacy and the safety of this new drug
for depression and fatigue patients.
Lyophilized
syringin powder for injection is developed independently by Renhuang as
a new form of pure Chinese herbal medicine that does not have any of
the side-effects of other synthetic anti-depression drugs commonly used
by patients around the world. Renhuang is in the process to file an
invention patent application for this new drug with the State
Intellectual Property Office of the P.R.C (SIPO). The product is
expected to be classified as a “Class One” new drug by SFDA
representing a major breakthrough in anti-depression drug development
worldwide. This new drug can also be used as anti-exhaustion treatment,
wound stancher and healthy gland growth nutrition.
Mr.
Li Shaoming, chief executive officer of Renhuang, said, “ Although
rapid economic development is raising standards of living in China and
improving the lives of many, Chinese people are increasingly confronted
with stress brought about by economic development and increased
competition. At the same time, they are becoming more health conscious
and more sophisticated in their understanding of medical treatments.
Given the high risks of side effects from current anti-depression
drugs, both physicians and patients around the world are yearning for
anti-depression medication treatments with low or zero side-effects.
This creates substantial market potential globally for our new
anti-depression drug. We are very confident that this new drug will not
only help Renhuang expand its market share in China but it will also
increase Renhuang’s brand awareness overseas.”
By
controlling an estimated 70% of China’s natural resource of
Acanthopanax (also known as Siberian Ginseng), a raw material, from
which syringin is extracted, securing ample supply for the new drug and
minimizing raw material cost.
According
to a 2006 report by the World Heath Organization, there were about 340
million people suffering from depression in the world including more
than 26 million in China as per the latest statistics from the China
Association for Mental Health. Global sales of anti-depression drugs
reached US $20.60 billion in 2006.
Renhuang
has secured prime time advertising slots on China Central Television
Station (CCTV) in 2008. Advertising during the Beijing Olympics, in
particular, will provide a unique platform to substantially increase
Renhuang’s brand recognition in China and around the world.
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