Dragon Ships EPO Internationally
Dragon Pharmaceuticals Inc. (NASDAQ OTC: DRUG) today announced that it has filled orders for recombinant erythropoietin (EPO) from Egypt, India and Peru where, in addition to China, the Company’s EPO is approved for use in the treatment of anemia related to chronic renal failure. All dollar amounts are stated in US dollars.
“Penetrating new markets with EPO, our lead product, is key to accelerating revenue growth,” said Longbin Liu, President and CEO of Dragon Pharmaceuticals. “We have secured licensing agreements with 11 distribution partners covering more than 90 countries globally and we expect to receive additional product registration approvals throughout the year. These initial shipments mark the beginning of a strong international presence for Dragon’s EPO.”
On December 31, 2001, Dragon delivered $187,000 of EPO to its licensee for the Middle East, Amoun Pharmaceuticals Ltd, for distribution in Egypt. Total EPO shipments to Egypt for the year amounted to $262,500.
A $60,000 order of EPO was shipped to Emcure Pharmaceuticals Ltd. in India last week. Emcure intends to formally launch EPO in India later this month, after which additional orders are expected to follow.
During 2001, Dragon was awarded two national hospital tenders for EPO in Peru, totalling $195,750. The first of these orders was delivered in November 2001 to Laboratorios AC Farma SA de CV, Dragon’s Peruvian licensee, for receipts of $11,000. The remaining order, valued at $184,750, will be shipped in February.
Dragon and its licensees are currently seeking regulatory approval for the marketing of the Company’s EPO throughout Central and Eastern Europe, Southeast Asia, Latin America and the Middle East.
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