SHANGHAI, Jan. 4, 2023
/PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or the
"Company"), a platform-based internet technology company offering
services to patients with oncology and other major diseases, today
announced that Chongqing Xinjiang Pharmaceutical Co., Ltd.
("Xinjiang Pharmaceutical"), one of the Chinese operating entities
of which the Company consolidates the financial results with
through certain contractual arrangements, will act as the drug
distribution agent of certain drugs produced by Natco Pharma
Limited ("Natco") within Mainland China pursuant to certain
agreements. Natco is a vertically integrated and R&D focused
pharmaceutical company in India.
Through this cooperation, Xinjiang Pharmaceutical will introduce
different products from Natco based on the needs of patients in
China, for example, anti-influenza
drugs during the flu season, and high demand anti-tumor and
anti-rare diseases products. Both parties will work together to
apply registration certificate of imported drugs and submit filings
of sales agent, and will fully leverage their advantages and
resources to effectively shorten the clinical trial approval and
other processes and accelerate the progress of introducing quality
drugs to the patients in China.
Weiguang Yang, Chairman and Chief
Executive Officer of Zhongchao, commented, "We are thrilled to
announce the cooperation with Natco. While we continuously focus on
strengthening our service model of Medical-Pharmaceutical-Patient
in the field of oncology and other major diseases, we consider it
an important step to introduce quality pharmaceutical products to
the end market of China to benefit
the patients." Mr. Yang further adds, "Due to compulsory licensing
requirement in India, Indian
generic drugs have the characteristics of early market penetration
and good efficacy. Going forward, Xinjiang Pharmaceutical will
continue to expand its drug import and export trade business, and
introduce imported drugs based on the demands of Chinese patients
and increase drug supply offerings. We have been committed to
improving the drug accessibility and affordability for patients but
bring in greater social economic benefits."
About Zhongchao Inc.
Zhongchao Inc. is an offshore holding company incorporated in
the Cayman Islands. It conducts
operations in China through the
contractual arrangements between its wholly owned subsidiary and
PRC operating entities. Zhongchao Inc. is a platform-based internet
technology company offering services to patients with oncology and
other major diseases. The PRC operating entities provide online
healthcare information, professional training and educational
services to healthcare professionals under their "MDMOOC" platform
(www.mdmooc.org), offer patient management services in the
professional field of tumor and rare diseases through Zhongxin,
offer internet healthcare services through Zhixun Internet
Hospital, and pharmaceutical services through Xinjiang Medical and
operate an online information platform, Sunshine Health Forums, to
general public. More information about the Company can be found at
its investor relations website at http://izcmd.com.
About NATCO PHARMA LIMITED
NATCO PHARMA LIMITED, founded in Hyderabad, India, in 1981, is a vertically
integrated and R&D focused pharmaceutical company engaged in
developing, manufacturing and marketing of finished dosage
formulations ("FDF") and active pharmaceutical ingredients
("APIs"). Its focus is primarily on niche therapeutic areas and
complex products. The company markets and distributes its products
in over 40 countries. It currently has seven manufacturing plants
and modern R&D laboratories in India, one R&D center, four subsidiaries
in Brazil, Canada, Singapore and New
Zealand, and over 4,000 employees worldwide. More
information can be found at https://www.natcopharma.co.in/.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's
future business development; product and service demand and
acceptance; changes in technology; economic conditions; the growth
of the professional training and educational services market in
China and the other international
markets the Company plans to serve; reputation and brand; the
impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China and the international
markets the Company plans to serve and assumptions underlying or
related to any of the foregoing and other risks contained in
reports filed by the Company with the SEC, the length and severity
of the recent coronavirus outbreak, including its impacts across
our business and operations. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward–looking statements to
reflect events or circumstances that arise after the date
hereof.
For more information, please contact:
At the Company: Pei Xu, CFO
Email: xupei@mdmooc.org
Phone: +86 21-3220-5987
Investor Relations: Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
View original
content:https://www.prnewswire.com/news-releases/zhongchao-inc-announces-drug-distributorship-in-china-of-indian-generic-drugs-of-natco-pharma-limited-301712999.html
SOURCE Zhongchao Inc.
