Business
Zhongchao Inc. Announces Naiditawei® Enrolled as a Listed Online Procurement Drug in Ten Provinces(Districts, Cities) in China
SHANGHAI, May 8, 2023 /PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or the "Company"), a platform-based internet technology company offering
About this update from Zhongchao Inc.
[{"type":"text","content":"SHANGHAI, May 8, 2023 /PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD) (\"Zhongchao\" or the \"Company\"), a platform-based internet technology company offering services for patients with cancer and other major diseases, today announced that Chongqing Xinjiang Pharmaceutical Co., Ltd. (\"Xinjiang Pharmaceutical\"), one of the Chinese operating entities of which the Company consolidates the financial results with through certain contractual arrangements, successfully integrated its introduced drug Naiditawei® into the procurement scope of medical treatment drugs across ten provinces (districts, cities) in China, including Shandong, Anhui, Beijing, and Shanghai, by the end of February. The enrollment of Naiditawei® in the listed online procurement program is expected to alleviate the supply pressure faced by medical institutions in treating influenza A and make a positive contribution to the healthcare sector in China.\nNaiditawei® is an anti-influenza drug introduced by Xinjiang Pharmaceutical imported from Natco Pharma Limited (\"Natco\") in India, commonly known as Oseltamivir Phosphate Capsules (the \"Capsule\"). The Capsule belongs to Medical Insurance Category B products in China, which is covered by medical insurance, and it is one of the national anti-influenza reserve drugs. The Capsule introduced by Xinjiang Pharmaceutical are available in 75mg, 45mg and 30mg sizes to serve the domestic medical market.\nListed online procurement program is a strategic initiative that ensures transparency and fairness in drug procurement by posting drug procurement information on a specific online trading platform for drug tendering and procurement. Public medical institutions are required to purchase drugs through this platform, and medical insurance-designated private medical institutions and pharmacies can also participate in the procurement process. By adhering to the principle of \"quality first and reasonable price,\" listed online procurement program fosters competitiveness for listed drugs.\nAccording to China Health Care Statistics Yearbook 2022, as of the end of 2021, in ten provinces (districts, cities) that have adopted listed online procurement, there were 3,841 medical institutions in total participating in such program. These institutions include general hospitals, traditional Chinese medicine hospitals, integrated Chinese and...