AXM Pharma's wholly-owned subsidiary in Shenyang has received approval from the Chinese Food and Drug Administration to sell Glucostrim Anti-diabetes Capsules in China, its new treatment for diabetes.
The company received a New Drug Certificate, allowing it to produce and sell the product commencing in March 2006.
Glucostrim (Qiyao) Anti-diabetes Capsules, employing traditional Chinese medicine, are designed to raise the level of the body insulin so as to reduce the glucose, and uses natural herbal medicine extracts with the company's proprietary new technology.
The drug has proven to be effective in clinical studies with 600 cases through 18 month conducted at Affiliate Hospital of Changchun Chinese Medicine College, Affiliate Hospital of Liaoning Chinese Medicine College, Beijing Traditional Chinese Medicine Hospital and Xiyuan Hospital of China Medicine Academy. These studies also reported that the capsules are non-toxic and do not cause adverse side effects commonly associated with other treatments.
"We are very excited to receive marketing approval for this promising product," said Weishi Wang, Chairman and CEO of AXM Pharma. "Diabetes is a growing problem in China and internationally and this product, which has proven effective in treating diabetes without the associated side effects, provides the Company with a significant revenue opportunity."
According to The Asia Times, there are now 90 million people with diabetes in Asia. Asia is home to four of the world's five largest diabetic populations — India, 33 million people with diabetes; China, 23 million; Pakistan, 9 million; and Japan, 7 million. Globally, the World Health Organization estimates the global diabetes population will grow to more than 200 million in 2010 and 330 million in 2025. The burden in Asia will increase — in less than a decade 60% of all diabetes cases globally are expected to be in Asia.
