19th Jan 2010 07:00
Hutchison China MediTech Limited ("Chi-Med")
(AIM: HCM)
Three more of Chi-Med's China Healthcare Division drugs added to latest China's National Medicines Catalogue
London: Tuesday, 19 January 2010: Chi-Med, the pharmaceutical and healthcare company with operations primarily in China, today announces that a further three of its drugs, under its joint venture Hutchison Whampoa Guangzhou Baiyunshan Chinese Medicine Company Limited, have been included as Type B drugs in the 2009 edition of the Medicines Catalogue announced by the Ministry of Human Resources and Social Security in China ("NMC") in late 2009.
The NMC lists the drugs to which patients are entitled reimbursement under the national basic medical insurance, labour injury insurance and child birth insurance systems in China. The last national medicines catalogue was issued in late 2004. Most of the drugs included in the NMC are generic drugs that are manufactured by multiple manufacturers in China. Inclusion in the NMC, while certain to lead to increased distribution and consumption, does not necessarily guarantee reimbursement in all provinces across China, as provinces are allowed some limited flexibility at a local level to select which Type B drugs are reimbursed.
The three additional drugs are Kou Yang Qing granules (periodontitis), Nao Xin Qing tablets (central nervous system/cardiovascular) and Dan Hong Hua Yu oral liquid (ophthalmology). Sales of these three drugs in the first half of 2009 totalled $2.9 million, or about 6% of the sales of prescription and over-the-counter ("OTC") drugs of Chi-Med's China Healthcare Division. Their inclusion in the NMC raises the total percentage of the China Healthcare Division's sales of prescription and OTC drugs in the NMC from 88% to over 94%.
Christian Hogg, Chief Executive Officer of Chi-Med, said, "Getting more of our drugs in the NMC is valuable for Chi-Med. We constantly seek to expand our position in the NMC in order to broaden sales through reimbursement for our drugs. Chi-Med's China Healthcare Division has delivered compound annual organic growth of 28% since Chi-Med's flotation in 2006 and this increase in NMC presence should help growth to continue."
Ends
Enquiries
|
Chi-Med Christian Hogg, CEO |
Telephone: +852 2121 8200 |
|
Citigate Dewe Rogerson Anthony Carlisle David Dible |
Telephone: +44 (0) 20 7638 9571 +44 (0) 7973 611 888 +44 (0) 7967 566 919 |
|
Lazard & Co., Ltd. Paul Gismondi Nick Fowler |
Telephone: +44 (0) 20 7187 2000 |
About Chi-Med
Chi-Med is the holding company of a pharmaceutical and healthcare group based primarily in China and was admitted to trading on the Alternative Investment Market of the London Stock Exchange in May 2006. It is focused on researching, developing, manufacturing, and selling pharmaceuticals, health supplements and other consumer health and personal care products derived from Traditional Chinese Medicine and botanical ingredients.
Chi-Med is majority owned by Hutchison Whampoa Limited, an international company listed on the Main Board of The Stock Exchange of Hong Kong Limited.
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