(Yicai Global) Nov. 27 -- The pharmaceutical unit of China's Humanwell Healthcare has secured approvals from the US Food and Drug Administration to sell potassium chloride powder in the country.
The approval, which went to unit Epic Pharma, will have a positive impact on Humanwell's expansion strategy for the US generic drug market, the Wuhan-based firm said in a statement.
Potassium chloride powder is used to treat hypokalemia, vomiting, severe diarrhea, application of potassium-sparing diuretics, hypokalemic familial periodic paralysis, and the long-term application of glucocorticoids.
Founded in 1993, Humanwell acquired US drugmaker Epic Pharma for USD500 million in 2016. The company also operates overseas in Mali, Burkina Faso, Ethiopia, Vietnam as well as other countries, and has formulated a framework internationalization strategy.
Epic Pharma works on research & development, production, and sales of drugs. The company manufactures and sells chemical generic drugs, of which main products are prescription drugs for the therapeutic treatment of gallstones, pain, motion sickness and high blood pressure. The enterprise has over thirty R & D projects at different stages for products covering sub-sectors such as anesthesia, analgesic, nervous, high blood pressure and controlled release formulations.