Lukang Pharmaceutical subsidiary passes generic drug evaluation

Shandong Lukang Pharmaceutical (SSE:600789) announced today that its holding subsidiary, Shandong Lukang Pharmaceutical Group Sete Co., Ltd., has received approval from the National Medical Products Administration, confirming that its Azithromycin Tablets have passed the generic drug quality and efficacy consistency evaluation. The drug is primarily indicated for infections caused by sensitive bacteria. As of this announcement, 18 manufacturers have passed or are deemed to have passed the evaluation. According to available data, Azithromycin tablet sales in China totaled approximately CNY 136 million in 2022, CNY 107 million in 2023, and CNY 152 million in 2024. Sete Co., Ltd. invested approximately CNY 4.69 million in the development of the generic drug. The company cautions that the production and sales of the drug are subject to policy and market risks.