HAIKOU CITY, China, Feb. 11 China PharmaHoldings, Inc. ("China Pharma") (OTC Bulletin Board: CPHI), which develops,manufactures, and markets specialty pharmaceutical products in China,announced today that the company has initiated clinical trials for the genericversion of the leading hypertension drug Candesartan.
The clinical trials for this product are anticipated to requireapproximately 18 months to complete. The sartan group of drugs, used as front-line therapy in the treatment of hypertension, are usually well-tolerated, andhave a high safety record. Candesartan was discovered and originallysynthesized by the Japanese firm, Takeda Pharmaceutical Company Limited andjointly developed by the same company with AstraZeneca. Worldwide sales for2007 exceeded $2.5 billion(1). In China, Candesartan is listed on the NationalBasic Medical Insurance Drug List, enabling patient reimbursement.
China Pharma's CEO and president, Ms Zhilin Li, commented, ''In Chinatoday, nearly 60% of all urban adults aged 65 years and over suffer fromhypertension(2). Moreover, due to the aging of the population and changes inlifestyle, the urban prevalence of hypertension has been predicted to grow to100 million by 2011(2). Even in 2004, sales in China of anti-hypertensiondrugs exceeded CNY 10 billion ($1.2 billion, Dec. 2004), exhibiting a marketgrowth of over 30% year on year, and accounting for 22% of all cardiovascularsystem drugs sold in China(3). Hypertension is a serious problem and is linkedto an increased incidence of other diseases, particularly brain edema,coronary heart disease and diabetes. Candesartan is a well establishedhypertension drug and is known to be particularly suitable for heart failureand diabetic patients. Our R&D strategy is to enable us to provide moreeffective treatment for the high numbers of patients in China whose medicationneeds are seriously unmet so we are very happy that we will have thisopportunity to provide better health for individuals suffering hypertension inChina.''
About the drug. Candesartan lowers hypertension by inhibiting blood vesselconstriction through blocking angiotensin II receptors.
About China Pharma Holdings, Inc.
China Pharma Holdings, Inc. is a specialty pharmaceutical company withrapidly growing profit that develops, manufactures, and markets treatments fora wide range of high incidence and high mortality conditions in China,including cardiovascular, CNS, infectious, and digestive diseases. TheCompany's cost-effective, high margin business model is driven by marketdemand and supported by eight scalable GMP-certified product lines coveringthe major dosage forms. In addition, the Company has a broad and expandingdistribution network across 30 provinces, municipalities and autonomousregions. The Company is registered in Delaware, USA. Hainan HelpsonBio- pharmaceutical Co., Ltd (Helpson), located in Haikou City, HainanProvince, China, is a wholly owned subsidiary of China Pharma Holdings, Inc.For more information about China Pharma Holdings, Inc., please visithttp://www.chinapharmaholdings.com .
Safe Harbor Statement: Certain statements in this press release and oralstatements made by China Pharma on its conference call in relation to thisrelease, constitute forward-looking statements for purposes of the safe harborprovisions under The Private Securities Litigation Reform Act of 1995. Anystatements set forth above that are not historical facts are forward-lookingstatements that involve risks and uncertainties that could cause actualresults to differ materially from those in the forward-looking statements,which may include, but are not limited to, such factors as unanticipatedchanges in product demand, increased competition, failure to obtain ormaintain intellectual property protection, downturns in the Chinese economy,uncompetitive levels of research and development, failure to obtain regulatoryapprovals, and other information detailed from time to time in the Company'sfilings and future filings with the United States Securities and ExchangeCommission. The forward-looking statements made herein speak only as of thedate of this press release and the Company undertakes no duty to update anyforward-looking statement to conform the statement to actual results orchanges in the company's expectations.(1) Source: (for year ended March 31 2008) Takeda Pharmaceutical Company Ltd., Annual Report 2008. (2) Source: Nature Reviews, Drug Discovery: 2008 May; 7 383-384. Susan Ward. Demographic Factors in the Chinese Health-care Market (3) Source: Southern Medical Economic Research Institute: 2006, Dec. Sartan Drugs: Leaders in the Antihypertension Drug Market.(in Chinese) From http://www.menet.com.cn For more information, please contact: China Pharma Holdings, Inc. Diana Huang Tel: +86-898-6681-1730 Email: [email protected]
Or The Ruth Group Sara Ephraim Tel: +1-646-536-7002 Email: [email protected]
SOURCE China Pharma Holdings, Inc.