|
|
|
|
|
|
| Strengthening Commercial Platform and Enhancing Brand Awareness to Accelerate Business Growth |
HONG KONG, Feb 27, 2017 - (ACN Newswire) - Uni-Bio Science Group Limited ("Uni-Bio Science" or the "Group;" HKEx code: 690) has announced that its product Mitiglinide is now to be officially reimbursed under the National Reimbursement Drug List ("NRDL") published by Ministry of Human Resources and Social Security today. Meanwhile, GeneTime already included on the NRDL, lifted from the restricted use in only occupational injury claims. Therefore both drugs are now accessible to all patients under general medical claims which should accelerate the market penetration of Uni-Bio Science's drugs while expediting the Group's business growth.
The lifting of restrictions limiting use only for occupational injury claims is expected to be a great driver of expanding GeneTime use in new departments where wounds are not caused by industrial or work-related accidents. From surgical incisions to chronic wounds, GeneTime can be applied to a wide range of medical conditions, for example skin burns, plastic surgery and even incisions in gynecologic and orthopedics surgeries. Recent study reported that caesarean section delivery rate in China was as high as over 34%, or an average of 11 babies delivered by caesarean sections per minute. Upon the ending of China's one-child policy and increasing occurrence of high risk pregnancies, the number of caesarean sections carried out in China is expected to rise rapidly. With the restriction lifted, GeneTime is on track to capture the growing market potential on a heightened level.
Besides the lift, GeneTime is also the only drug recognized as a new EGF entry (i.e. rhEGF I) in the latest NRDL, meaning that its uniqueness differentiates itself from the rest of the EGF products in the market. This listing endorses GeneTime's positioning as an advanced treatment choice for doctors and other medical professionals.
Mr. Kingsley Leung, Chairman and Executive Director of Uni-Bio Science said, "I am very excited to announce the successful designation of these two products on the NRDL. The Group hopes to unlock the extensive growth potential of Mitiglinide and raise its revenue contribution in the future. Besides, lifting GeneTime's reimbursement restriction is a very pleasant surprise. The prospects are exciting, and the change will increase the quality-of-life in a large number of patients undergoing various surgeries. Many people do not know that poor wound management can cause posttraumatic stress disorder, such as anxiety and insomnia. For example, this is normally seen in women who have undergone cesarean section. Many women feel unattractive in front of their husband, embarrassed and humiliated in public. With better education of wound management, and increased use of certain wound and scar treatments (such as GeneTime), we hope to help these patients live a happier life. With the change in NRDL status, this is a very positive step forward. In addition, our co-promotion partnership on various dermatology and aesthetics products with LUQA Pharmaceuticals last year would also help provide more treatment options for patients."
Mitiglinide is a new, potentially best-in-class oral anti-diabetic agent which belongs to the glinides class of blood glucose-lowering compounds. Market size of glinides class drugs in China was over RMB1.2 billion and its demand for Mitiglinide has showed a strong annual growth rate of over 50%, as of 2015. Currently there are over 90 million patients with Type 2 diabetes in China and the number is expected to rise rapidly in the coming decade. Mitiglinide supplements Uni-Bio's current endocrinology pipeline and the commercial expertise of Mitiglinide will benefit the Group before the launch of its proprietary products Uni-E4 and Uni-PTH.
GeneTime is the only rhEGF (Recombinant human Epidermal Growth Factor) spray available in China for accelerating wound healing and reducing scar formation. GeneTime enhances Uni-Bio Science's treatment portfolio for patients in dermatology specifically in terms of wound and scar management.
Contact:
Strategic Financial Relations Limited
Veron Ng Phone: +852 2864 4831 Email: veron.ng@sprg.com.hk
Phoebe Li Phone: +852 2864 4862 Email: phoebe.li@sprg.com.hk
Fax: +852 2527 1196
Topic: Press release summary
Source: Uni-Bio Science Group Limited
Sectors: Daily News, BioTech, Healthcare & Pharm
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
