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news.Chinese government has granted two-year research grant of $144,000 (RMB 950,000) to Bohai Pharmaceuticals providing funding to the R&D of Menstrual Relief tablet, a traditional Chinese medicine (TCM) for dysmenorrhea, or menstrual pain.
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Out of $144,000 Bohai Pharma has received $91,000 (RMB 600,000) from the Ministry of Science and Technology of the People’s Republic of China and Yantai local government has given $53,000 (RMB 350,000) to the company.
Bohai Pharma president and CEO Hongwei Qu said they are very pleased and grateful to have received these grants, not only because they will support their advancement of a new product, but also because the funding demonstrates the Chinese government’s commitment to the healthcare system in China as well as its support of TCM.
"The Chinese government is working to resolve quality and efficacy issues surrounding raw and finished Traditional Chinese Medicine products with the help of partners like Bohai," Qu said.