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Chinese Viagra maker cashes in on report of '140 million impotent men'

Press Trust of India  |  Beijing 

A Chinese firm selling a Viagra-like drug saw its stock price rise sharply after it claimed that upto 140 million men in were impotent.

The share price of Hebei Changshan Biochemical rose by its maximum daily limit of 10 per cent on the yesterday after the claim was made, Hong Kong-based Morning Post reported.

The firm also made further gains in trading today.

The claim was included in an announcement that a subsidiary in southern province was certified by regulators to produce tablets of citrate, the used in Viagra to treat erectile dysfunction, the daily quoted a report by

If about 30 per cent of those afflicted with impotency sought treatment, the potential market size for the product in could reach tens of billions of yuan, the firm claimed.

After questions about the authenticity of the figure, the company issued a statement today explaining the data came from a May 2014 report by state-owned financial services company Guosen Securities, but said it had not verified its accuracy.

"The company has obtained the relevant approval for production of citrate tablets, but the new product's market size, promotion and market share may be lower than expected," it said.

"The future sales of this product has great uncertainty and there is a risk of increased market competition for this product. Investors are advised to make prudent decisions and pay attention to investment risks," it said.

The company has been recognised as part of China's hi-tech enterprise programme, which grants it a lower tax rate, and it has received investment from the government's economic planning agency - and the ministry of finance, report said.

The firm has also been listed as part of the country's national plan to create drugs and promote innovation in the sector, it said.

Pfizer's patent for Viagra expired in China in 2014, so it now competes with domestic versions of drugs.

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

First Published: Thu, May 17 2018. 17:40 IST
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