GTEC: Receives Chinese SFDA for Radix Isatidis Dispersible Tablets
Submitted By Knobias ClipReport
By Fain Hughes, fhughes@knobias.com
Genesis Pharmaceuticals Enterprises, Inc. (GTEC) has received approval from the Chinese State Food and Drug Administration (”SFDA”) to start producing and distributing Radix Isatidis Dispersible Tablets.
Radix Isatidis is an herbal-based traditional Chinese medicine used to cure viral influenza. Radix Isatidis is very popular in China because people there believe it has fewer side affects than western medicines. Most Radix Isatidis products are in powder form, which has to be dissolved in hot water. Genesis will be the only company in China to manufacture Radix Isatidis in dispersible tablet form. Radix Isatidis Dispersible Tablets will be more convenient to take, easier to absorb and are more stable than Radix Isatidis products in powder form.
Annual sales of Radix Isatidis in China are estimated to be over US$1.43 billion. The Company estimates that its sales of Radix Isatidis Dispersible Tablets in fiscal year 2009 ending June 30, 2009 will be approximately US$4.2 million and an estimated US$10 million in fiscal year 2010.
