Summary by Futu AI
FOUR RING PHARMACEUTICAL HOLDINGS GROUP LIMITED ANNOUNCED THAT THREE MANDARIN INSULIN PRODUCTS DEVELOPED BY ITS NON-WHOLLY OWNED SUBSIDIARY HUICHENG BIOPHARMACEUTICALS CO., LTD. HAVE BEEN APPROVED TO MARKET BY CHINA'S NATIONAL DRUG ADMINISTRATION FOR THE TREATMENT OF DIABETES. These three products, including Monton Insulin Injection, Monton Insulin 30 Injection and Monton Insulin 50 Injection, are classified under National Health Insurance Class B (2023 Edition). This approval marks a new stage in the evolution of Wellbeing from the R&D phase into the commercialization of all diabetes products. MENDON INSULIN SERIES PRODUCTS HAVE WIDE APPLICATION IN THE CHINESE MARKET, AND ACCORDING TO NORD ANNUAL REPORT, THE MARKET REVENUE IN GREATER CHINA REACHED RMB59 BILLION IN 2022. As a domestic biopharmaceutical company focused on diabetes and complications, Wellcome Biologics has developed into an industry-wide chain biopharmaceutical company. Founded in 2001 and listed on the main board of the Hong Kong Stock Exchange Limited in 2010, Four Circle Pharmaceuticals is committed to becoming a leading pharmaceutical and biopharmaceutical company in China.