Novi, Michigan — SinoPharm of China has issued a letter of intent (LOI) to import Diabetain® and its related technology and other diabetes products from Omni One. This letter of intent stipulates a close collaboration between two companies and implementing a clinical trial in China for a “package drug” status. Diabetain® will be sold in SinoPharm’s many well established distribution chennels in China in 2016. The diabetes diseaase is on the rise in China over the last decade. It is estimated total number of diabetes patients in China is about 100 million. Chinese government have placed diabetes as one of its core health problem recently.
“Diabetain’s efficacy as an adjunct therapy with metformin and other oral anti-diabetic medications will help containing health care costs and make it much more affordable. We welcome the opportunity to partnering with SinoPharm. We foresee this opportunity will lead us to other markets in Asia and Europe,” said Charles Liu, Omni One’s CEO.
China National Pharmaceutical Surgical Group Corporation a.k.a.SinoPharm is the largest pharmaceutical and health care group under state owned assets supervision and administration commission of state consul in China.
SinoPharm manufactures patent medicines, blood products and traditional Chinese medicine. It’s estimated revenue in 2013 was US $20-30 billion.
Omni One, LLC is a Novi-based Michigan company with an innovative and comprehensive product pipeline in the field of alternative diabetes management and related diseases.
For more information about this news release contact Charles Liu at 248-921-1393 or CLIU@DIABETAINC.COM.