Zhejiang Jolly Pharmaceutical (300181.SZ) announced that recently, the company and its controlling subsidiary Qinghai Zhuofeng Cordyceps Sinensis Pharmaceutical...
According to the announcement by Zhejiang Jolly Pharmaceutical (300181.SZ) through the Zhitong Finance APP, the company and its controlling subsidiary, Qinghai Zhuifeng Cordyceps Pharmaceutical Co., Ltd. ("Zhuifeng Pharmaceutical"), participated in the national centralized procurement work of Chinese Patent Medicine. According to the announcement published by the Hubei Medical Insurance Service Platform on December 30, 2024, the proposed selection results for the national centralized procurement of Chinese Patent Medicine indicate that Bailing Tablets are proposed for selection in this centralized bulk procurement.
The proposed selected products, Bailing Tablets and Bailing Capsules, are both included in the national medical insurance and national essential medicines directory. The sales revenue of Bailing Tablets for the year 2023 was 0.202 billion yuan, accounting for 10.39% of the company's total revenue for 2023. The failure of Bailing Tablets to be selected in the inter-provincial alliance centralized bulk procurement of Chinese Patent Medicine in December 2021 had a significant impact on its sales in the Hubei alliance region. This proposed selection is beneficial for restoring and further enhancing market share in the alliance region.