Corporate Profile
We are in the business of:
- research, development, production and sale of pharmaceutical drugs for the fields of orthopaedics, neurology, gastroenterology and hepatology, focusing on natural drugs and chemical drugs with new formulations ;
- distribution of products of other pharmaceutical manufacturers in the PRC;
- processing and sale of active ingredients, mainly chondroition sulphate, for the manufacture of pharmaceutical drugs; and
- sale of R&D results and/or patents of new drugs and provision of research services on a contract basis.
Drugs with new formulations refer to drugs with different pharmaceutical product type but containing the same active ingredient as included in an existing drug. Such pharmaceutical product types include drugs with different administration forms (for example, oral to injection), new delivery systems (for example, modified release tablets such as immediate, sustained and controlled released tablets) and different dosage forms with the same administration method. Drugs with new formulations are convenient to use, have greater efficacy and reduced side effects.
Our principal business is in the PRC. Our operating subsidiary, Shandong Luye, first obtained the Pharmaceutical Production Enterprise Licence on 6 June 1994 from the Shandong Health Bureau and obtained a replacement National Pharmaceutical Production Licence on 20 May 2001. Our trading subsidiary, Luye Drugs Trading obtained the Pharmaceutical Trading Enterprise Licence on 18 February 1997 and the National GSP certification on 1 December 2003. Since we commenced operations, the licences have been renewed upon expiry and none have been revoked or terminated.
Our Products
Currently, we manufacture and sell a wide range of products in various forms and specifications. As at 27 April 2004, we have obtained manufacturing permits for a total of 19 drugs comprising 17 prescription drugs and two OTC drugs. Currently, we manufacture and sell ten of these 19 drugs, eight of which are prescription drugs and two are OTC drugs. We also export four main active ingredients such as chondroitin sulphate for the manufacture of pharmaceutical drugs.