JIUQUAN, China, Jan. 19, 2022 /PRNewswire/ -- Qilian
International Holding Group Limited (Nasdaq: QLI) (the "Company",
"Qilian International", "we", "our" or "us"), a China-based pharmaceutical and chemical
products manufacturer, today announced that the Company received
approval from Gansu Provincial Drug Administration on January 14, 2022 for the sale of its newly
developed nitrofurantoin enteric-coated tablets. This indicates
that the Company officially become the first enterprise in
Gansu Province with the Gansu
Provincial Drug Administration's approval for selling
nitrofurantoin enteric-coated tablets.
Included as a class-A medicine in the National Reimbursement
Drug List and the National Essential Medicines List in China, nitrofurantoin enteric-coated tablets
are expected to have a robust market demand with large growth
potential. Nitrofurantoin enteric-coated tablets are mainly used
for the treatment of acute lower urinary tract infections caused by
bacteria such as Escherichia coli, Enterococcus, Staphylococcus,
Klebsiella, and Enterobacter. Nitrofurantoin enteric-coated tablets
also can be used to prevent urinary tract infections and are
commonly used as anti-inflammatory and bactericidal drugs.
The Company's nitrofurantoin enteric-coated tablets have
successfully passed the on-site inspection and comprehensive
evaluation by the Examination and Inspection Center of the Gansu
Provincial Drug Administration. The Examination and Inspection
Center of the Gansu Provincial Drug Administration determined that
the Company's production process for the nitrofurantoin
enteric-coated tablets is consistent with the approved registration
process, its production and quality management of nitrofurantoin
enteric-coated tablets meet the requirements of Good Manufacturing
Practice, and its production facilities and quality control system
meet the needs of the production scale. Qilian International's
nitrofurantoin enteric-coated tablets have been sampled by
Examination and Inspection Center of the Gansu Provincial Drug
Administration and tested by Gansu Provincial Institute of Drug
Inspection. As a result of the foregoing approvals, the Company's
nitrofurantoin enteric-coated tablets have been determined by the
applicable authorities to meet the national drug standards.
Mr. Zhanchang Xin, Chairman and CEO of the Company, commented,
"We are excited about receiving approval from Gansu Provincial Drug
Administration for the sale of nitrofurantoin enteric-coated
tablets, which we believe demonstrates our research and development
("R&D") capabilities. We anticipate that our nitrofurantoin
enteric-coated tablets will further add to the Company's product
line in the pharmaceutical sector and may further enhance our
competitiveness and market expansion capabilities. We expect the
introduction of nitrofurantoin enteric-coated tablets will have a
positive impact on the Company's operations in the future. Looking
forward, we will continue to focus on independent innovation,
increase our R&D efforts, improve product quality, and leverage
our brand advantages. We expect to rapidly expand the scale of our
production and sales, further enhance the market share of our
products, improve our financial performance, and make greater
efforts to effectively improve market concentration and the health
of people."
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, manufacturing, marketing and sale of
licorice products, oxytetracycline products, traditional Chinese
medicine derivative products, heparin products, 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/.
Forward-Looking Statements
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.
For more information, please contact:
Qilian International Holding Group Limited
Email: ir@qlsyy.net
Ascent Investors Relations LLC
Tina Xiao
President
Phone: 917-609-0333
Email: tina.xiao@ascent-ir.com
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SOURCE Qilian International Holding Group Limited