Humanwell Healthcare (Group) Co., Ltd.

The latest release shows that Humanwell Healthcare has delivered remarkable results in the first half of 2024, demonstrating excellent market performance. Specifically, the company managed to achieve solid growth in total operating revenue, totaling RMB12.861 billion, an increase of 3.86% over the same period last year, marking the fourth consecutive year of good growth for Humanwell Healthcare. Despite some fluctuations in net profit, Humanwell Healthcare's core subsidiary, Yichang Humanwell, maintained strong growth momentum and achieved double-digit growth rates, providing strong support for the company's overall performance. As a leading pharmaceutical company in China, Humanwell Healthcare has been committed to the research and development, production and sales of pharmaceutical products since its establishment in 1993. Headquartered in Wuhan, Hubei Province, Humanwell Healthcare is a key player in China's pharmaceutical industry. Humanwell Healthcare's product line is rich and diverse, including many star products. Compound Cloloterol propionate tablet, as one of the company's core products, is an oral drug for type 2 diabetes, which has the effect of significantly reducing blood sugar and protecting islet function, and enjoys a high reputation in the field of diabetes treatment in China. Gastrodine capsule is a Chinese medicine preparation for the treatment of ischemic stroke sequelae, which can significantly improve the blood supply to the brain and promote the repair of nerve function, and is an important representative of the company in the field of Chinese medicine. In addition, as the company's main product in the field of respiratory treatment, trimebutin tablets can effectively improve the respiratory function of patients with chronic obstructive pulmonary disease (COPD), and occupy an important position in the domestic COPD treatment market. Humanwell Healthcare continues to consolidate and expand its market leadership in the key area of neurological medicine. The company's two star narcotic products - remifentanil hydrochloride for injection and sufentanil citrate injection, the performance of the national hospital market in 2023 is particularly eye-catching. The combined sales of these two products reached 6.778 billion yuan, accounting for more than 40% of the market share. Among them, remifentanil hydrochloride for injection is as high as 90.28% of the market share, sitting firmly on the throne of "anesthesia first", its market position is rock-solid. Humanwell Healthcare will continue to uphold the philosophy of continuous innovation and excellence to further consolidate its leading position in the field of anesthetics. At the same time, the company will also accelerate the research and development process of new product pipelines, actively expand other therapeutic areas, and continuously improve its overall competitive strength with a diversified product portfolio and strong research and development strength. We firmly believe that with the joint efforts of all employees, Humanwell Healthcare will be able to create even more brilliant results and bring even greater returns to shareholders.

The FDA first declared an Adderall shortage in October 2022. In a welcome respite from the persistent nationwide Adderall shortage, Teva seems to have gotten a handle on its supply. The drugmaker has all of its Adderall products marked as available on the FDA’s shortage list, except for the 5-mg version of its generic offering, which is estimated to see supply recovery in June. The company is currently manufacturing and distributing the drugs “consistent with historic levels” but continues to see unprecedented demand, according to the FDA shortage database. Generic drug makers Sandoz, Alvogen, Lannett, Sunrise Pharmaceutical, US Pharma Windlas, Epic Pharma and Elite Laboratories also have their products in stock, while three other generic companies are still struggling with short supply due to “shortage of an active ingredient.” Even so, patients across the country often still struggle to get prescriptions filled with pharmacies often experiencing back orders, NBC News reports. Vyvanse, another popular attention-deficit/hyperactivity disorder (ADHD) drug, has faced its own supply issues since last June. Once the med’s patents expired in August, several approved generics were expected to help fill in the gaps but instead succumbed to shortages as well. Brand name Vyvanse maker Takeda is currently the only supplier of the drug, while copycats from 10 drugmakers with approved generics are all listed as either unavailable or in limited supply due to the active ingredient shortage. ADHD meds like Adderall and Vyvanse are unique in that both meds are classified as controlled substances. That means the Drug Enforcement Administration (DEA) sets production limits on the active ingredients to avoid an excess of supply that could spread to the black market. Last August, the DEA committed to “reviewing and improving” the quota process that determines how much ingredient manufacturers are allowed to produce. In 2022, that limit was not met, and drugmakers sold only 70% of their allotted quota for the year, making for some 1 billion extra doses that could have been made, the FDA and the DEA revealed in a joint letter (PDF). At the time, the agencies said they had called on manufacturers to confirm production increases and asked that those that opt to no longer produce the meds “relinquish” their remaining quota so the DEA can redistribute it. Still, the shortage largely remains “unmitigated,” the American Academy of Child and Adolescent Psychiatry, the American Academy of Pediatrics and the Children’s Hospital Association stressed in an open letter (PDF) to the DEA and the FDA earlier this month. The group notes that the rules in place to keep from excess products hitting the streets are flawed, as the allocation estimates “vastly underestimate” true patient need. As it stands, the amount of product distributed to pharmacies is determined by past demand. Along with a trend of rising ADHD diagnoses, the lack of supply suggests that demand won’t be slowing down anytime soon. More recently, the Senate Finance Committee introduced a proposal to address the broad drug shortage problem in the U.S. The legislation would offer Medicare payment incentives upon meeting new standards for supply chain “resiliency, reliability and transparency” including three-year minimum contracts with manufacturers and greater purchase volume commitments.

Conference Call Scheduled for Wednesday, February 15 at 11:30 AM EST NORTHVALE, NJ / ACCESSWIRE / February 14, 2023 / Elite Pharmaceuticals, Inc., ("Elite" or the "Company") (OTCQB:ELTP), a specialty pharmaceutical company developing niche generic products, announced results for the third quarter of fiscal year 2023 ended December 31, 2022 ("Third Quarter"). Consolidated revenues for the three-month period ended December 31, 2022, were $9.3 million, an increase of $0.30 million or 3% as compared to the comparable period of the prior fiscal year. The increase was primarily attributed to revenues from generic immediate-release Adderall® and generic extended-release Adderall®. Operating profits were $2.0 million, an increase of $0.12 million from the prior year's comparable period, and net income was $2.96 million. Consolidated revenues for the nine-month period ended December 31, 2022, were $25.5 million, an increase of $0.90 million or 4% as compared to the comparable period of the prior fiscal year. The increase was primarily attributed to revenues from generic immediate-release Adderall® and generic extended-release Adderall®. Operating profits were $4.1 million, a decrease of $0.10 million from the comparable period of the prior year, and net income was $4.79 million. Conference Call Information Elite's management will host a conference call to discuss the Third Quarter financial results and provide an update on recent business developments. Stockholder questions should be submitted to the company in advance of the call. Date: February 15, 2023 Time: 11:30 AM EST Dial-in numbers: 1-800-346-7359 (domestic) 1-973-528-0008 (international) Conference number: 98840 Questions: dianne@elitepharma.com Financial questions by 7:00 PM EST on Tuesday, February 14, 2023 Audio Replay: The financial statements can be viewed for Elite's Third Quarter of Fiscal Year 2023 on Form 10-Q here. About Elite Pharmaceuticals, Inc. Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company that develops niche generic products. Elite specializes in developing and manufacturing oral, controlled-release drug products. Elite owns multiple generic products which have been licensed to Lannett Company, Prasco, LLC, Epic Pharma, LLC, and TAGI Pharma. Elite operates a cGMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ. For more information, visit . This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, those related to the effects, if any, on future results, performance or other expectations that may have some correlation to the subject matter of this press release. Readers are cautioned that such forward-looking statements involve, without limitation, risks, uncertainties and other factors not under the control of Elite, which may cause actual results, performance or achievements of Elite to be materially different from the results, performance or other expectations that may be implied by these forward-looking statements. These forward-looking statements may include statements regarding the expected timing of approval, if at all, of products by the FDA, and the actions the FDA may require of Elite in order to obtain such approvals. These forward-looking statements are not guarantees of future action or performance. These risks and other factors are discussed, without limitation, in Elite's filings with the Securities and Exchange Commission, including its reports on forms 10-K, 10-Q, and 8-K. Elite is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Contact: For Elite Pharmaceuticals, Inc. Dianne Will, Investor Relations, 518-398-6222 Dianne@elitepharma.com SOURCE: Elite Pharmaceuticals, Inc. View source version on accesswire.com: