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news.Nutra Pharma, a biotechnology company that is developing treatments for Multiple Sclerosis (MS), Human Immunodeficiency Virus (HIV), Adrenomyeloneuropathy (AMN) and Pain, has received notification of the acceptance of Nyloxin by the China International Exchange and Promotive Association for Medical and Healthcare (CPAM).
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This process was successfully conducted by the Vancouver Commodities Group (VCG) that had been hired by Nutra Pharma to begin the process of identifying and vetting potential distributors in China for the Company’s Over-the-Counter pain drug, Nyloxin.
Nutra Pharma chairman and CEO Rik Deitsch said: "We only released the engagement of VCG last week and we’ve already seen some results from their efforts.
"We’ve received notification from the Vice-Chairman of CPAM, stating a positive review of Nyloxin and their willingness to aid us in the registration and distribution of our products throughout China," he continued.
"The next steps will be to work with VCG and CPAM to identify and engage distributors in China. It is our goal to move this process forward expeditiously and grow sales in China at the same time as we are creating our first large orders for the India market," he concluded.
The China International Exchange and Promotive Association for Medical and Healthcare (CPAM) is a public welfare and non-profit agency governed by the Ministry of Health in China.
One of CPAM’s primary functions is to promote exchanges and cooperation in the healthcare industry between China and other countries.
China is currently the world’s most populous country with almost 1.4B people. According to Research & Markets, the analgesics drug category in China was worth $1.2 billion in 2014 and was dominated by Non-Steroidal Anti-Inflammatory Drugs (NSAIDs) and topical ointments.
The letter response to Nutra Pharma was signed by the Vice-Chairman of CPAM and stated, "Based on our review [of Nyloxin] we believe the Company’s products have a very large potential in the market of the People’s Republic of China, where our people suffer from the same kinds of disease-related pain as people in the USA experience."
The letter went on to offer Nutra Pharma aid in developing relationships with Chinese companies for regulatory approval and distribution.
Nyloxin is an over-the-counter (OTC) pain reliever clinically proven to treat moderate to severe (Stage 2) chronic pain. Nyloxin is currently available as an oral spray for treating back pain, neck aches, headaches, joint pain, migraines, and neuralgia, and as a topical gel for treating joint pain, neck pain, arthritis pain, and pain from repetitive stress. In addition to its everyday strength formulation, Nyloxin® is also offered in an extra strength formula for more advanced, Stage 3, chronic pain.