While the pharmaceutical and device industry has been affected by the economic cycle, Grand Pharma’s (0512.HK) cardiovascular precision interventional diagnostic segment has bucked the trend and gained marketing approval for three heavyweight products. Looking ahead to 2025, the segment is poised for a quantum leap in both product volume and departmental depth.
With the layout gradually taking root, three epoch-making products of Grand Pharma’s cardiovascular and cerebrovascular precision interventional diagnosis and treatment segment will be launched in the fourth quarter of 2024. This indication not only demonstrates Grand Pharma’s determination to persistently invest in the medical device field, but also reflects the speed of localised production of internationally advanced equipment.
In order to ensure production capacity and the possibility of future product upgrades, as well as to meet the national strategic objectives of reducing costs and increasing efficiency and responding to the price reduction of collective purchasing, the cardiovascular and cerebrovascular precision interventional diagnostic and treatment segment embarked on the co-operation plan of technology transfer with the Canadian partner as early as 2021, and opened an equipment production and development base in Wuhan Optics Valley. This lengthy investment finally reaped milestones at the end of 2024.
The localised product NOVASYNC (catheter approved on 27 November 2024 and host approved on 5 December 2024) received marketing approval from the NMPA. It is perfectly compatible with the imported NOVASIGHT host computer and catheter, which greatly reduces the cost while ensuring the imaging quality of the product, and thus can benefit more PCI patients with more competitive price.
