26 Jan 2016 15:20
Taihua plc
("Taihua" or the "Company")
Renewal of Drug Production Permit
The Company confirms today that the renewal of its Drug Production Permit ("DPP") has been granted ahead of the previously advised timescales. The Company understands that the processing of the DPP application was accelerated following a number of representations by the Company's management to Shaanxi Provincial Food and Drug Administration. The new DPP remains in force until 31 December 2020.
As the Company now has the DPP and the Good Manufacturing Practice ("GMP") certificate, the regulatory restrictions on the Company's manufacture and sale of Homoharringtonine and its Traditional Chinese Medicine ("TCM") products have now been lifted. The Company does not anticipate that this short delay will have had any impact on the Company's businesses.
Following the renewal of the DPP, it is the intention of the Company to attempt to recover more market share in Homoharringtonine in China. It also intends to continue its strategy of expansion of TCM products distribution, particularly Bian Tong Pian.
Enquiries:
Nicholas Lyth, Taihua plc 07769 906 686
Katy Mitchell/Nick Prowting, WH Ireland Limited +44 161 832 2174