Qilian International Holding Group Limited Announces Inclusion of 16 Products into China's National Reimbursement Drugs List

April 13, 2021 at 7:00 AM EDT

Jiuquan, China, April 13, 2021 (GLOBE NEWSWIRE) -- Qilian International Holding Group Limited (Nasdaq: QLI) (the “Company”), a China-based pharmaceutical and chemical products manufacturer, today announced that 16 of its products have been included in the latest version of the National Reimbursement Drugs List in China, such as aspirin enteric-coated tablets for coronary heart disease treatment, and nitrofurantoin enteric-coated tablets for the treatment of urinary tract infections. In addition, 10 out of these 16 products have been included in the latest version of the National Essential Medicines List in China.

National Reimbursement Drug List is the list of products eligible for reimbursement in China, as maintained by the National Healthcare Commission of China. The National Essential Medicines List is one of the core contents of the essential medicines system. The system requires that all government-run primary health care institutions be equipped with essential medicines merely and on the respective lists of each province.

China’s National Healthcare Security Administration has added 119 products to the National Reimbursement Drugs List effective from March 2021. The list also includes some key products produced by foreign pharmaceutical companies, such as Novartis’ blockbuster inflammation drug Cosentyx, and Israeli firm Teva Pharmaceuticals’ Austedo for treatment of involuntary movements of Huntington’s disease in adults. Inclusion into the list could potentially boost demand for these drugs, as patients will be reimbursed for a significant portion of the costs of purchasing these listed drugs.

Mr. Zhanchang Xin, Chairman and CEO of the Company, commented, “We are excited to have 16 of our products included in the National Reimbursement Drugs List and 10 out of these 16 products also included in the National Essential Medicines List in China. This means that our products may benefit from being included on such list and their market share grow consequently.”

About Qilian International Holding Group Limited

Qilian International Holding Group Limited, headquartered in Gansu, China, is a pharmaceutical and chemical products manufacturer in China. It focuses on the development, manufacture, marketing and sale of licorice products, oxytetracycline products, traditional Chinese medicine derivatives product, heparin product, sausage casings, and fertilizers. The Company’s products are sold in more than 20 provinces in China. For more information, visit the company’s website at http://ir.qlsyy.net/.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

For more information, please contact:

Qilian International Holding Group Limited 
Email: ir@qlsyy.net

Ascent Investors Relations LLC
Tina Xiao
President
Phone: 917-609-0333
Email: tina.xiao@ascent-ir.com


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Source: Qilian International Holding Group Limited