Jiuquan, China, May 05, 2021 (GLOBE NEWSWIRE) -- Qilian International Holding Group Limited (Nasdaq: QLI) (the “Company”), a China-based pharmaceutical and chemical products manufacturer, today announced that the Company, through its subsidiary Gansu Qilianshan Pharmaceutical Co., Ltd., has entered into an exclusive agency agreement (the "Agreement") with Henan Kangzhiyuan Pharmaceutical Co., Ltd. ("Kangzhiyuan"), a pharmaceutical company with omni-channel in China, to boost the sales of Gan Di Xin® product of Compound Licorice Lozenges (the “Product”). The agreement was signed on April 22, 2021 with an initial period of five years.
Pursuant to the Agreement, both parties agree to cooperate in product marketing of Gan Di Xin® through leveraging their advantages and resources. The Company agrees to engage Kangzhiyuan as the exclusive sales agent for distributing the Company’s licorice products.
The Company has independently researched and developed the Product, which has become a well-known national chemical product and a brand-name product in Gansu provenience. Gan Di Xin® is an innovative antitussive and expectorant medicine made from high-quality raw licorice materials sourced from Northwest China, which the Company manufactures with its patented purification, thin-film coating and inclusion technology, allowing patients to more easily administer the medication. In addition, Gan Di Xin® has unparalleled taste and efficacy compared with traditional antitussive and expectorant drugs, making it an upgraded product among similar drugs.
Mr. Zhanchang Xin, Chairman and CEO of the Company, commented, “We are very pleased to cooperate with Kangzhiyuan. Previously, we marketed Gan Di Xin® mainly through third-party platforms in towns such as healthcare centers, individual clinics, and pharmacies. We believe the national marketing channels and sales network of Kangzhiyuan will greatly assist us in achieving record sales for the compound licorice lozenges product. We look forward to working with Kangzhiyuan in accelerating the promotion of the Product to the domestic market.”
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/.
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.
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Qilian International Holding Group Limited
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Source: Qilian International Holding Group Limited