China Pharma Holdings, Inc. reports developments tied to its specialty pharmaceutical business in China, where it develops, manufactures, and markets products for cardiovascular, central nervous system, infectious, and digestive diseases. News commonly centers on its wholly owned subsidiary, Hainan Helpson Medical & Biotechnology Co., Ltd., product portfolio updates, NMPA-related approvals, and dosage forms that include tablets, capsules, injectables, oral solutions, and other pharmaceutical products.
Company updates also cover the dry eye disease therapeutic device, completed generic-drug consistency evaluation for candesartan tablets, financing arrangements, convertible-note redemptions, and common-stock reverse splits. These announcements connect operating product activity with capital-structure actions for CPHI's NYSE American-listed common stock.
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China Pharma Holdings Inc. (NYSE American: CPHI) announced a 1-for-10 reverse stock split effective March 6, 2023. This decision was approved unanimously by the Board of Directors and stockholders at the Annual Meeting held on December 27, 2022. Following the split, the new CUSIP number for common stock will be 16941T-203. Each stockholder's percentage interest will remain unchanged, although fractional shares will be rounded up to the nearest whole share. China Pharma specializes in pharmaceuticals targeting high-incidence diseases in China, and maintains a broad distribution network across the country.
China Pharma Holdings, Inc. (NYSE American: CPHI) announced the launch of the N95 medical protective mask on December 26, 2022, following the issuance of a Registration Certificate by the Hainan Medical Products Administration. As COVID-19 cases surge in China, the demand for high-level medical protective masks has skyrocketed, leading to significant shortages in availability. CEO Li Zhilin highlighted the company's swift response to expand product lines for public health. This strategic move aims to optimize production capacities and ensure a stable supply of essential medical materials amidst the ongoing pandemic.
China Pharma Holdings, Inc. (NYSE American: CPHI) announced its drugs were listed in The Catalogue of Medicines for People Infected with COVID-19 on December 12, 2022. This follows China's end of strict COVID-19 policies, increasing public demand for related medications. Key products listed include the anti-viral Andrographolide and cold medicine Pusen OK. Additionally, recent regulatory changes will boost sales of roxithromycin and cefaclor. The company anticipates rising demand for health-related products amid the ongoing epidemic.
China Pharma Holdings, Inc. (NYSE American: CPHI) has announced the acquisition of a patented therapeutic device targeting Dry Eye Disease (DED). With DED affecting 25-30% of the population in China, and 75% of those over 65, the company aims to fill a significant market gap. The DED drug market in China was valued at about RMB3.85 billion in 2021, growing at 12.4%. The company has established sales channels in over 30 hospitals, enhancing its ability to promote the new device. CEO Li Zhilin highlighted the growing need for effective DED treatments due to increased screen time and an aging population.
On December 1, 2022, China Pharma Holdings, Inc. (NYSE American: CPHI) received a notification from NYSE American regarding noncompliance with listing standards due to insufficient stockholders' equity, reported at $2.8 million as of September 30, 2022. This falls below the $4.0 million minimum required after reporting net losses for four consecutive fiscal years. If compliance is not achieved by December 15, 2023, delisting proceedings may commence. The Company remains operational and its stock will continue to trade while it seeks compliance.
On September 26, 2022, China Pharma Holdings, Inc. (NYSE American: CPHI) received a Deficiency Letter from NYSE American for failing to meet listing standards. The letter indicated that the company's stock has traded below $0.20 on average for the past 30 days, as of September 22, 2022. The company must either conduct a reverse stock split or demonstrate sustained price improvement by March 26, 2023. The notification does not impact the company’s operations or obligations under SEC regulations. CPHI aims to regain compliance with the listing standards.
On July 15, 2022, China Pharma Holdings, Inc. (NYSE American: CPHI) submitted a compliance plan to NYSE American to address stockholders' equity deficiencies identified in a June 15, 2022 letter. The company must demonstrate compliance with Section 1003(a)(iii) by December 15, 2023. CEO Zhilin Li expressed optimism, noting the NYSE's acceptance of the compliance plan. China Pharma focuses on critical health conditions in China, supported by a strong distribution network and GMP-certified products.
On June 15, 2022, China Pharma Holdings, Inc. (NYSE American: CPHI) received a noncompliance notice from NYSE American regarding its listing standards. The Company must submit a compliance plan by July 15, 2022 to address deficiencies and regain compliance by December 15, 2023, or face potential delisting. The stock will remain listed but will carry a '.BC' designation indicating noncompliance. Despite this, the notification does not affect the Company’s operations or SEC reporting obligations.