Buchang pharma advances drug trial, expands production, streamlines portfolio

Buchang Pharmaceuticals, through its wholly-owned subsidiary Shandong Danhong Pharmaceutical, announced a clinical trial entrustment contract for the "Shenfu Yixin Granules" project. The trial, involving 480 cases, has a total cost of 60,338,000.00 yuan, aiming to expand research capabilities and reduce trial time and costs.

In a related move, the company's wholly-owned subsidiary, Shaanxi Buchang Pharmaceutical, secured an 80,000,000 yuan guarantee from Huaxia Bank Xi'an Branch for a working capital loan. This contributes to a total outstanding guarantee of 394,000,000 yuan, representing 22.48% of the company's net assets as of the end of 2024. Concurrently, Shaanxi Buchang Pharmaceutical also updated its Drug Production License, adding a tablet production line for diclofenac sodium capsules and transferring the production of sitagliptin phosphate tablets to in-house manufacturing, enhancing production efficiency and meeting market demand.

Additionally, Buchang Pharmaceuticals announced the deregistration of Chengdu Guosheng Biomedical Technology, a 15% owned associate. This divestiture will not significantly impact the company's overall business or profitability.