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news.Shares in Biotech Holdings have shot up by over 16% after the company announced that television advertising materials for its diabetes drug, Sucanon, meet new requirements established by Mexico's medical regulator.
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New Mexican regulatory policies require that any advertising making medical claims must have prior approval from the Mexican national regulator, explained Biotech Holdings’ president and director, Robert Rieveley. The approval of the television infomercial for Sucanon, Biotech Holdings believes, will now give the company a competitive advantage for marketing the drug in Mexico.
Biotech Holdings also announced that an information pamphlet for Sucanon, which will be distributed in drugstores, has also received approval from regulators.
“With these approvals in hand, we can finalize plans for our marketing campaign for driving sales of Sucanon,” Rieveley concluded.
Sucanon, which has been approved for the treatment of symptoms of type II diabetes, is now sold in more than 600 stores in Mexico, including outlets of at least four drugstore chains.