Business
Qilian International Holding Group Limited Received Approval for Oxytetracycline API Export to Egypt
JIUQUAN, China, Oct. 13, 2021 /PRNewswire/ -- Qilian International Holding Group Limited (Nasdaq: QLI) (the "Company"), a China-based pharmaceutical and
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[{"type":"text","content":"JIUQUAN, China, Oct. 13, 2021 /PRNewswire/ -- Qilian International Holding Group Limited (Nasdaq: QLI) (the \"Company\"), a China-based pharmaceutical and chemical products manufacturer, announced that on September 14, 2021, through its subsidiary Gansu Qilianshan Pharmaceutical Co., Ltd. (the \"Gansu QLS\"), it has received Certificate of a Pharmaceutical Product (the \"Export Certificate\") from Gansu Province Drug Administration, which approves the export of its Qilian Shan® Oxytetracycline APIs (Active Pharmaceutical Ingredients) (the \"API\") to Egypt. \nThe Export Certificate indicates that the Company's API is a registered pharmaceutical product approved by China, complies with relevant standards of China, is licensed for sale in Chinese market and is not subject to any export restrictions. Moreover, the product is licensed for use, and has already been used in the Egyptian market. The production facilities and operations also conform to the requirements of China's GMP.\nGansu QLS was established in 2006, and has grown to include the development, manufacture and sale of more than 20 pharmaceutical products, which includes three major ones, licorice products, oxytetracycline products, and Traditional Chinese Medicine Derivatives (TCMD). These products have been sold to more than 20 provinces across China. Its oxytetracycline products also comply with the National Medical Products Administration (NMPA) certification, making it a strength of the company. In terms of revenue structure, oxytetracycline are main revenue sources of the Company. In recent performance periods, oxytetracycline and licorice products have contributed more than 60% of the Company's revenue, while oxytetracycline products have accounted for more than 90% of the sales of this segment and it is the Company's core product.\nMr. Zhanchang Xin, Chairman and CEO of the Company, commented, \"We are very pleased with this good news. The approval of this direct exporting license marks a smooth opening to overseas markets. So that we have a solid foundation for further export expansion in the future.\"\nAbout Qilian International Holding Group Limited\nQilian 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 licoric...