HARBIN, China, July 21, 2010 (GLOBE NEWSWIRE) -- Tongli Pharmaceuticals (USA) Inc. (OTCBB:TGLP), announced the following three of its products have been included in China's Essential Drug List ("EDL"): Calcium Gluconate Oral Liquid, Metformin Hydrochloride Tablets, Clindamycin Hydrochloride. As a result of their EDL status, a greater part of the cost for these products will be covered by China's government sponsored programs, therefore the Company expects it a positive factor in boosting the sales volumes.
As is common in many developed countries, concurrent with the rapid growth of the economy and per capita income, the number of diabetic patients in China is on a rapid rise, and hence the demand for corresponding drugs. The International Diabetes Federation ("IDF") has designated Metformin Hydrochloride as one of the frontline medicines for diabetes. This product is popular in China. We have witnessed steady increase in demand for our product in our sales. If the current trends stay the course as we expect, we can see a 25% increase in sales of our Metformin Hydrochloride.
Mr. Mingli Yao, Chairman and CEO commented, "We are happy to see our products recognized by the EDL. We will be happier when we see the benefit of additional business growth from such product qualification."
About Tongli Pharmaceuticals (USA) Inc.
Tongli Pharmaceuticals (USA) Inc. is a pharmaceutical company located in Harbin, China. The Company's manufacturing facilities are GMP certified in China, engaged in producing a range of prescription and over-the-counter products.
Statements made in this press release that is not of historical in nature are forward-looking and are pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.