The share price of China Pharma Holdings Inc. (CPHI) fell -5.41% to $0.83 on Thursday after-hours trading. A rally of 0.78% resulted in CPHI stock closing the last session at $0.88. CPHI stock shares ranged between $0.84 and $0.89. The CPHI stock traded 0.92 million shares, which was less than its daily average of 1.98 million shares over the past 100 days. In the last five days, CPHI stock fell by -0.02%, while in the past month, it has grown by 22.19 %. Even after its product passed a key test, CPHI stock fell.
What CPHI Stock product passed the test?
In addition to developing, manufacturing, and marketing a range of medicines that treat conditions with high incidence and mortality rates in China, such as cardiovascular and CNS diseases, infectious diseases, and digestive diseases, China Pharma also produces human pharmaceutical products including prostate and dermatology products.
With GMP certification, CPHI’s new product lines cover the major dosage forms while driving a cost-effective business model. Further, CPHI is expanding its nationwide distribution network throughout all major Chinese cities and provinces. Hainan Helpson Medical & Biotechnology Co., Ltd., CPHI’s wholly-owned subsidiary, is based in Haikou City, in the Hainan Province.
A key bioequivalence test on China Pharma’s Candesartan hypertension product was successful this month. The CPHI intends to apply for approval from the National Medical Products Administration (NMPA) on the basis of outcomes of the key benchmark tests. Previously known as China Food and Drug Administration or CFDA, the NMPA is the Chinese authority for regulating drugs and medical devices.
CPHI is optimistic about this process based on its experience promoting consistency evaluations of a number of current and existing oral products for over a decade. CPHI expects an increase in sales of Candesartan in the coming years due to a great need among consumers. The economic impact of hypertension, a leading cause of death worldwide, is estimated to be billions of dollars per year and it affects both rich and poor countries equally.
In the United States, nearly half of all adults have hypertension defined as a systolic blood pressure of 130 mm Hg or diastolic blood pressure of 80 mm Hg or are taking hypertension medications. The number of adults with hypertension under control is only about 1 in 4 (24%) in the United States. Economic consequences are similarly dire as CDC estimated that the U.S. has spent $131 billion per year between 2003 and 2014 on drugs for high blood pressure.
Potential for CPHI drug:
Chinese pharmaceutical company China Pharma (CPHI) developed candesartan to treat hypertension. Lowering the blood pressure decreases the risk of strokes, heart attacks, and kidney damage and among such drugs is candesartan, which belongs to the angiotensin receptor blocker (ARB) group. Blood can flow easier with the CPHI’s candesartan because it relaxes blood vessels.