FOUNTAIN HILLS, Ariz., March 2 Sunridge International (OTC Bulletin Board: SNDZ), announced today that China's State Food and Drug Administration, (SFDA), had approved the firm's Pneumatic Trabeculoplasty (PNT) treatment in China.
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In making the announcement today, Sunridge International's CEO, G. Richard Smith, said that the SFDA approval marked a major step forward for the company which would, hopefully, bring with it added relief to the glaucoma sufferers in China.
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"Our exclusive distributors, Beijing Vision World Trading Co, have informed us that they have received all necessary government documentation approving PNT as a medical treatment for glaucoma and ocular hypertension, as well as marketing approval for our equipment and disposable line of products," Mr. Smith said.
"The SFDA approval has been hard won. It marks the culmination of 3 1/2 years of consistent market development that has included multiple clinical trials in both private and state run military hospitals. It has come through the effort of a number of dedicated people and it was worth every moment," said Mr. Waisheng Yang, the President of Beijing Vision. "We are now ready to start our marketing operations throughout China and to reach out to its 10 million or more glaucoma patients."
Mr. Smith added that the next phase of the company's marketing program in China had already begun. "Along with the good news of the approval, came an initial order for 30 units and 10,000 rings. This order will allow Beijing Vision to place units in hospitals throughout China, and with sub distributors in a number of provinces."
"It marks the beginning of what we know will be a long and mutually profitable move into one of the world's biggest markets where even a 10 % market share can produce millions of dollars in annual revenue to our company," said Mr. Smith.
PNT is a safe, effective, 2-minute non-invasive and cost effective alternative for treatment for glaucoma and ocular hypertension, that has been developed, patented, and distributed by our wholly owned subsidiary, Ophthalmic International (www.oi-pnt.com).
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
CONTACT: Jeff Smith, Sunridge International T: +1-480-837-6165 e-mail: [email protected] MEDIA: Victor Webb, Marston Webb International T: (212) 684-6601 e-mail: [email protected]
SOURCE Sunridge International
