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news.China Nuokang Bio-Pharmaceutical has acquired the manufacturing license and marketing rights for alpha lipoic acid capsule for a cash consideration of RMB18m from Shandong Qidu Pharmaceutical.
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Alpha Lipoic Acid Capsule (ALA), also known as Thioctic Acid, is an antioxidant product that addresses diabetic neuropathy.
The company will be one of the two pharmaceutical companies in China licensed to manufacture ALA, upon the transfer of the manufacturing license.
The company expects to begin manufacturing ALA in its production facilities in Penglai, China in 2014 when the transfer of the ALA manufacturing license is expected to be completed.
Until then, Qidu Pharma has agreed to fulfill the full production needs for ALA for the company on a contractual basis at a pre-determined, fixed price.
China Nuokang chairman and CEO Baizhong Xue said ALA has been clinically proven to be able to lower or maintain blood glucose levels and help manage diabetic peripheral neuropathy.