JIUQUAN, China, Nov. 23, 2021 /PRNewswire/ — Qilian International Holding Group Limited (Nasdaq: QLI) (the “Company”), a China-based pharmaceutical and chemical products manufacturer, today announced that Gan Di Xin® and Qilian Shan® Oxytetracycline, products of the Company’s subsidiary, Gansu Qilianshan Pharmaceutical Co., Ltd. (“Gansu QLS”), have been included in the List for Development of Leading Enterprises with Large Varieties and Brands of Pharmaceuticals of Gansu Province (the “List”). The List selects key medicines and medical devices with a goal of facilitating the development and promotion of leading pharmaceutical brands in Gansu Province.
The List was issued by the Department of Industry and Information Technology of Gansu Province (the “Department”) on October 13, 2021 with the release of the “Notice of the General Office of the People’s Government of Gansu Province on Policies and Measures to Support the Development of Leading Enterprises with Large Varieties and Brands of Pharmaceuticals of Gansu Province“. The Department has included a total of 55 medicines and medical devices from 27 enterprises, including Gan Di Xin® and Qilian Shan® Oxytetracycline from the Company.
The List is a major strategic decision of the Gansu provincial government (the “Government”) as an effort to support the growth of local leading pharmaceutical companies. The Government expects to promote the development of local pharmaceutical industry, strengthen brand awareness for local companies and position Gansu province as a leading region for pharmaceutical industry through cultivating large pharmaceutical enterprises, enhancing the competitiveness of local pharmaceutical companies, and supporting pharmaceutical companies in Gansu province. The Government will include all the products on the List into Gansu Province Reimbursement Drug List and support the inclusion of all the products on the List in the National Essential Medicines List and National Reimbursement Drug List in China.
The Qilian Shan® and Gan Di Xin® trademarks owned by Gansu QLS are well-known domestic brands and have been favored by the market for a long time. As a global producer, manufacturer, and supplier of oxytetracycline, the Company’s oxytetracycline meets the United States Pharmacopeia (the “USP”) quality standards and their technical indicators have long been in the forefront of the industry. Based on the recognized quality as well as strong stability, coupled with efficient marketing methods, the Company’s oxytetracycline has obtained over 35% domestic market share. Gan Di Xin® is a high-tech product independently developed by the Company and its preparation method was granted a national invention patent. Gan Di Xin® has been listed in China’s State Category V New Drug with an exclusive domestic production and is a well-known product in Gansu Province and China.
The inclusion of Gansu QLS’s Gan Di Xin® and Qilian Shan® Oxytetracycline in the List affirms these products’ leading positions in the market and further enhances the Company’s brand awareness. The products, included in the List and Gansu Province Reimbursement Drug List, and recommended to be included in the National Essential Medicines List and National Reimbursement Drug List, can be sold in hospitals of all types in Gansu province and hospitals across China, thereby covering the entire national market. These products also benefit from the national medical insurance reimbursement policy, which is expected to contribute to the Company’s efforts to increase its product sales, market share, operating income, and business performance.
Mr. Zhanchang Xin, Chairman and CEO of the Company, commented, “We are excited to have Gansu QLS’s Gan Di Xin® and Qilian Shan® Oxytetracycline included in the List for Development of Leading Enterprises with Large Varieties and Brands of Pharmaceuticals of Gansu Province. This demonstrates the Government’s recognition of the value and quality of our products and gives us a tremendous boost in our confidence to continue researching and developing world class products. Looking forward, we will continue to improve and leverage the advantages of our brands such as Gansu QLS’s Gan Di Xin® and Qilian Shan® Oxytetracycline and other famous products to turn them into world-renowned brands.”
About Qilian International Holding Group Limited
Qilian International Holding Group Limited, headquartered in Gansu, China, is a pharmaceutical and chemical products manufacturer in China. It focuses on the development, manufacture, marketing and sale of licorice products, oxytetracycline products, traditional Chinese medicine derivatives product, heparin product, sausage casings, and fertilizers. The Company’s products are sold in more than 20 provinces in China. For more information, visit the Company’s website at http://ir.qlsyy.net/index.html or http://qilianinternational.com/.
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, financial needs and the successful construction of the pig by-product processing project facility. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.
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