China Pharma Holdings, Inc. Announced the Acquisition of Dry Eye Disease Therapeutic Device Project

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Dec 05, 2022, 08:00 ET

HAIKOU, China, Dec. 5, 2022 /PRNewswire/ -- China Pharma Holdings, Inc. (NYSE American: CPHI) ("China Pharma", the "Company" or "We"), an NYSE American-listed corporation with a fully-integrated specialty pharmaceuticals subsidiary based in China, today announced the Acquisition of Dry Eye Disease Therapeutic Device Project.

This device has a patent
Epidemiological research shows that the incidence rate of DED is about 25% to 30%, and the incidence rate of people over 65-year-old is 75% in China
According to the Research Report on the Market Status of the Global Dry Eye Disease Drug Industry in 2022⁽¹⁾, the market size of DED drugs in China in 2021 was approximately RMB3.85 billion (approximately US$0.55 billion), resulting a 12.4% year-on-year growth
In the field of DED and visual fatigue, this product will fill in the market gap of medical therapeutic apparatus
We have established sales channels in more than 30 provincial and municipal hospitals, as well as OTC markets in China for more than 20 years; which will strongly support the launch and promotion of this device

Dry eye disease (DED) refers to the general term of a variety of diseases related to abnormal tear quality, quantity, or dynamics, accompanied by eye discomfort (dry eyes, tingling, burning, gritty feeling, etc.) and/or ocular surface tissue lesions. Which may be caused by any reason (including aging, wearing contact lenses, certain drugs, eye diseases, other diseases, or environmental factors).

Ms. Li Zhilin, CEO of China Pharma said: "Due to the increasingly developed technology, the time and frequency of using the electronic products have significantly increased in recent years. In addition, with the aging of the population, DED has become the largest ophthalmic disease in China, and the diagnosis and treatment rate is expected to maintain an upward trend for a long time. What we acquired is an ophthalmic oxygen enriched atomization therapeutic device with a patent technology. This device is to fill in the vacuum of the current market demand in devices to treat DED, visual fatigue and other problems, as well as recovery after eye surgery. We plan to launch it to the market next year. We are confident that the launch of this product will bring excellent treatment experience to every DED patient, which will also boost the Company's sales. "

About China Pharma Holdings, Inc.

China Pharma Holdings, Inc. (NYSE American: CPHI) is a specialty pharmaceutical company that develops, manufactures, and markets a diversified portfolio of products, focusing on conditions with high incidence and high mortality rates in China, including cardiovascular, CNS, infectious, and digestive diseases. The Company's cost-effective business model is driven by market demand and supported by new GMP-certified product lines covering the major dosage forms. In addition, the Company has a broad and expanding nationwide distribution network across all major cities and provinces in China. The Company's wholly-owned subsidiary, Hainan Helpson Medical & Biotechnology Co., Ltd., is located in Haikou City, Hainan Province. For more information about China Pharma Holdings, Inc., please visit www.chinapharmaholdings.com. The Company routinely posts important information on its website.

Safe Harbor Statement

Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: the achievability of financial guidance; success of new product development; unanticipated changes in product demand; increased competition; downturns in the Chinese economy; uncompetitive levels of research and development; and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations, except as required by applicable law or regulation.

(1) Source from Newsjie

SOURCE China Pharma Holdings, Inc.