- Jatcorp’s (JAT) Jinvigorate diabetic formula is cleared for use in clinics and hospitals in South Korean by the Ministry of Food and Drug Safety
- The product is used as a food supplement to support the nutritional needs of people with diabetes
- Jatcorp expects to receive its first order from its South Korean distributor before the end of October
- JAT Managing Director Wilton Yao said the approval secures a “distinctive position” for JAT’s brand in South Korea
- Jatcorp shares are up 6.25 per cent to trade at 1.7 cents
Jatcorp’s (JAT) Jinvigorate diabetic formula has been cleared for use in clinics and hospitals in South Korean by the Ministry of Food and Drug Safety.
JAT describes its Jinvigorate Diabetic Formula as a special food supplement that can be used to support people with diabetes who may struggle to meet nutritional needs through their diet alone.
The company’s distributor in South Korea has indicated it will place its first order before the end of October to be delivered in 2021’s December quarter and expects to receive orders for 2 to 3 containers per month going forward.
Jatcorp believes attaining approval from the Ministry of Food and Safety — the regulatory authority in South Korea for regulated pharmaceuticals — could generate product sales opportunities and expand product sales channels.
JAT Managing Director Wilton Yao said the approval secures a “distinctive position” for JAT’s brand in South Korea.
“The approval is the beginning of establishing JAT’s portfolio of products as
more than supplementary foods but instead recognised as a medical food.
“It is for this reason that, as previously announced, JAT has commenced the process of obtaining Australian TGA accreditation for its ANMA factory in Melbourne.”
Jatcorp shares were up 6.25 per cent at 11:48 pm AEST to trade at 1.7 cents.