Jiuzhou Pharmaceutical: received approval notice for the application to market Hydrobromide Venlafaxine as a chemical raw material.

Jiuzhou Pharmaceutical announced that the company has received the approval notification for the market application of hydrobromide venlafaxine chemical raw materials issued by the National Medical Products Administration. The raw material is mainly used for the treatment of severe depression in adults. The company submitted the market application in October 2023 and recently obtained the approval notification. As of now, the company has accumulated research and development investment of approximately 4.29 million yuan in hydrobromide venlafaxine. The main domestic manufacturers include Jiangsu Enhua Pharmaceutical and Jilin Huikang Pharmaceutical. In 2023, sales of hydrobromide venlafaxine tablets in public medical institutions in China exceeded 150 million yuan, with a year-on-year growth of 6.52%. This approval will enrich the company's product structure, enhance market competitiveness, but will not have a significant impact on performance in the short term.