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China firm gets lift with drug for '140m impotent men'

AFP  |  Shanghai 

A firm claiming that 140 million men in suffer from was given a massive stock market boost today after winning approval to sell a Viagra-like drug in the country.

Shares of Hebei Biochemical surged by its 10 percent daily limit at the exchange after regulators gave one of its subsidiaries in southern province approval to manufacture a generic version of the drug.

In an attempt to explain the size of the market for the drug, Changshan, based in northern city of Shijiazhuang, claimed that over 140 million men in suffer from erectile dysfunction, which Viagra-like drugs can fix.

"Assume 30 per cent of them get treatment, the figure would be 42 million people," the firm, which mainly produces anti-clotting drug heparin, said in a statement to the exchange.

"Assume those accepted treatment could all use the meds multiple times, then the potential market size has the hope to reach tens of billions of yuan. "The market space is vast."

has 708 million men, latest available official figures showed, making one in every five men impotent based on Changshan's figures, whose authenticity was called into question after the announcement.

told newspaper that the firm did not exaggerate the figure and it had referenced two research reports.

Patents for giant blockbuster drug expired in China in 2014, leaving domestic firms able to develop generic drugs.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 19:45 IST
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