Dragon files new drug packaging film with SFDA
Dragon explained that the new tear-resistant film, which it says can be placed in direct contact with active pharmaceutical ingredients (API), will help ease its passage into the Chinese suppository market.
The company added that the film, which recently completed all pre-registration evaluation and testing, has a favourable toxicity profile and is particularly suited to temperature sensitive packaging applications
The product is manufactured according to ISO9001 standards at the company’s good manufacturing practice (GMP) accredited facility in Ningbo, Western China.
Dragon chairman Davis Wu commented that the film is expected to generate revenue of $1.5m for the fiscal year ending June 2009 and added that it had significantly expanded the firm’s offering in the pharmaceutical packaging sector.
Wu went on to that: “We are confident that our continued emphasis on our pharmaceutical family of packaging products will bring incremental revenue growth that should have a positive impact on our bottom line.”
He added that the firm is intent on increasing its product development efforts in order to bring additional pharmaceutical packaging solutions to the market in the coming quarters.
International expansion
The last quarter has been a busy period for Dragon as it seeks to grow its business on both domestic and international fronts. Earlier this year, the company announced plans to focus its sales and marketing efforts to establish and increase market share in India and Pakistan
Dragon’s recent supply deal with India’s Sun Pharmaceutical Industries and Platinum and Sami Pharmaceuticals in Pakistan, suggests that the international expansion strategy may be starting to pay off.
Commenting at the time Wu said that the firm’s entry into the Indian and Pakistani markets “is another positive step forward in our strategic growth plan and will continue to fuel our growth for the remainder of 2008 and into 2009."
Mr Wu’s comments are borne out by Dragon’s most recent set of financial results. For the first nine months of fiscal 2008, the company posted revenue of $33.28m, up 60 percent on the comparable period in the previous financial year.
