Universe Pharmaceuticals INC Announces Strategic Alliance with Jiangxi Province Institute of Materia Medica to Conduct Research on Traditional Chinese Medicine
January 04 2022 - 8:00AM
Universe Pharmaceuticals INC (the “Company”) (Nasdaq: UPC), a
pharmaceutical producer and distributor in China, today announced
that the Company had entered into two strategic cooperation
agreements (the “Agreements”) with Jiangxi Province Institute of
Materia Medica (“Jiangxi IMM”), an inspection and testing
institution fully funded by the Jiangxi Province Medical Products
Administration, which promotes the development of the
pharmaceutical industry by conducting research on medical devices
and Chinese and Western medicines.
Pursuant to the Agreements, the Company
authorized Jiangxi IMM to conduct six studies on the quality
standard of formula granules of traditional Chinese medicine,
including Isatis Root Granule, Epimedium, Sophora Flavescens,
Ginseng, Angelica, and Astragalus. The Company will provide related
materials and samples to Jiangxi IMM for these studies. The studies
shall be conducted in compliance with the requirements and
standards of Pharmacopoeia of the People's Republic of China,
including stability, reproducibility, and sample size. Upon
completion of each of the six studies, Jiangxi IMM will receive
payment from the Company.
As part of the Agreements, both parties agreed
to collaborate on scientific research, talents development, and
project collaboration to further create formulas for traditional
Chinese medicine. Leveraging their expertise, both parties expect
to continue to research and develop on compatibility theory of
traditional Chinese medicine, material basis of medicinal effect,
and improvement of pharmacological effect and quality standard, and
involve in designing and evaluating the process of intelligent
manufacturing of traditional Chinese medicine pills.
Mr. Gang Lai, Chairman and CEO of Universe
Pharmaceuticals INC, commented, “We are excited to partner with
Jiangxi IMM. The addition of the extensive experience of Jiangxi
IMM to our own research and development (“R&D”) capacity will
provide us with a strategic advantage and could bring new business
opportunities. By bringing in a medical R&D partner, we expect
to accurately identify, quantify, and improve the function of
current pharmaceutical products to offer better medical solutions
to our customers. We believe the studies of Jiangxi IMM will
further help improve our products quality and we are positioned to
continue to grow and develop our traditional Chinese medicine
products.”
About Jiangxi Province
Institute of Materia
Medica
Affiliated to the Jiangxi Province Medical
Products Administration, Jiangxi Province Institute of Materia
Medica was established in 1973. Jiangxi Province Institute of
Materia Medica has undertaken a large number of national and
provincial key scientific research projects, and has successfully
developed dozens of new national-level Chinese and Western
medicines and functional food supplements. For more information,
visit the institute’s website at http://www.jxmdt.org.cn/.
About Universe Pharmaceuticals
INC
Universe Pharmaceuticals INC, headquartered in
Ji’an, Jiangxi, China, is a pharmaceutical producer and distributor
in China. The Company specializes in the manufacturing, marketing,
sales and distribution of traditional Chinese medicine derivatives
products targeting the elderly with the goal of addressing their
physical conditions in the aging process and to promote their
general well-being. The Company also distributes and sells
biomedical drugs, medical instruments, Traditional Chinese Medicine
Pieces, and dietary supplements manufactured by third-party
pharmaceutical companies. Currently, the Company’s products are
sold in 30 provinces of China. For more information, visit the
company’s website at http://www.universe-pharmacy.com/.
Forward-Looking Statements
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:
Ascent Investors Relations LLCTina
XiaoPresidentPhone:
917-609-0333Email: tina.xiao@ascent-ir.com
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