Rafarma Pharmaceuticals, Inc. (OTC: RAFA) is pleased to announce its cooperation with Long Sheng Pharma Limited, a Hong Kong manufacturing and sale of pharmaceutical equipment, raw materials, and petrochemicals company. The parties plan to set up a joint venture in Hong Kong with the registration of a new company.
The pharmaceutical company will be engaged in the production and registration in Hong Kong of medical devices, as well as medicinal and diagnostic preparations containing radioactive isotopes. The companies also plan to sell and distribute products in the markets agreed upon by the partner.
One of the primary enterprise activities will be the production of various sources based on cobalt-60 and iodine-90 and a number of other isotopes. Radioactive isotopes are used in radiosurgery of oncological disease and in brachytherapy, radiosynovectomy and treatment method using microspheres. With these products, Rafarma Pharmaceuticals wants to distribute to the markets of China, Kazakhstan, Uzbekistan, Vietnam, Indonesia, Malaysia and Thailand by 2026.
According to Grand View Research, the global nuclear medicine market size was estimated at USD 9.1 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.8% from 2023 to 2030.
The future enterprise will comply with all industry 4.0 standards encompassing full automation of all enterprise processes and artificial intelligence operation. The company's goal is to be the first to implement the concept of such a production unit in Hong Kong.
Rafarma Pharmaceuticals thanks Long Sheng Pharma Limited for its cooperation and expresses its confidence in the fruitful development of joint projects.
ABOUT LONG SHENG PHARMA
Long Sheng Pharma was established on September 12, 1995, as a subdivision of the Chinese State Pharmaceutical group. It manufactures and sells pharmaceutical equipment, raw materials, and petrochemicals. The focus company areas are active pharmaceutical ingredients (API), pharmaceutical packaging for liquid and solid forms, hi-tech pharmaceutical equipment and after-sale service solutions and regulatory submissions assistance (medical devices, API, FDF).
For more information, please visit https://longshengpharma.com
ABOUT RAFARMA PHARMACEUTICALS
Rafarma Pharmaceuticals is a diversified pharmaceutical company dedicated to the new treatments and solutions development for patients in various fields. Regularly cooperating with leading research institutes and pharmaceutical companies around the world, the business has earned a reputation as a reliable manufacturer and distributor. Rafarma Pharmaceuticals has more than 25 programs in molecular biology, nuclear medicine, immunology, sustainable packaging, and many other fields at the moment.
For more information, please visit https://www.noyarp.com
FORWARD-LOOKING STATEMENT:
Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
CONTACTS:
RAFARMA PHARMACEUTICALS
(307) 429-2029
Source: Rafarma Pharmaceuticals, Inc.