Sinopbiopharma, Inc. (OTC:SNBP) has announced that the company now holds the rights for twenty three drugs listed on China’s National Essential Drugs list. The drugs on the list are used to treat eighty percent of the country’s most common diseases and will be covered by the country’s universal healthcare system by 2010. In addition to China’s prescription coverage, medical facilities will also be upgraded according to the plan, including 30,000 new hospitals, clinics and care centers across the country.
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Engaged in the research and development, manufacture and marketing of biopharmaceutical products, SinoBiopharma is a China based biopharmaceutical company. SBNP President and CEO Dr. Lequn Lee Huang is excited over gaining production rights for the drugs. Dr. Huang states, “We expect that this new advantage in the marketplace will also enable the Company to enhance our ability to improve return on investment for shareholders in 2010.”
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