Jacobson Pharma Forms Joint Venture with Kin Fung Weisen-U
Expands Branded Product Portfolio and Develops New Markets for Gastrointestinal and Respiratory Products
HONG KONG, Oct 31, 2019 - (ACN Newswire) - Jacobson Pharma Corporation Limited ("Jacobson Pharma" or the "Company"; Stock Code: 2633), a leading company engaging in the research, development, production, marketing and sale of generic drugs and proprietary medicines, announced today that its wholly-owned subsidiary Smiley Sun Limited ("Smiley") has signed a joint venture agreement (the "JV Agreement") with Kin Fung Weisen-U Company Limited ("Kin Fung Weisen-U") to set up a new company (the "Joint Venture") which will be 50%-owned respectively by Smiley and Kin Fung Weisen-U.
The Joint Venture will distribute and sell certain products of Kin Fung Weisen-U, including the well-recognised gastrointestinal drug "Weisen-U" and the popular nasal spray brand "Flucur Nebuliser" to new markets in the Asia Pacific region. It will create an expanded proprietary medicine platform for the Group in support of its regional market development strategy.
The Joint Venture will also explore and develop respective product line extensions for Weisen-U and Po Chai Pills. Furthermore, it will explore and conduct businesses relating to the supply and distribution of non-prescription drugs as well as food/health supplements of the gastrointestinal and respiratory categories in markets worldwide. In particular, the Joint Venture will have the first right over Smiley and Kin Fung Weisen-U to acquire brands of gastrointestinal and respiratory drugs, and food/health supplements. The Joint Venture will allow the Group to strengthen presence and penetration in the OTC market segment.
With Kin Fung Weisen-U being a long-standing reputable player in the pharmaceutical industry, Jacobson Pharma believes the Joint Venture will give the Company a sound strategic leverage to broaden its portfolio of gastrointestinal and respiratory drugs, food/health supplements and also to speed up expansion in the Asia Pacific market.
About Jacobson Pharma Corporation Limited (Stock Code: 2633)
Jacobson Pharma is the largest generic drug company in Hong Kong with over 30% share of the total generic drug market. The Group's proprietary medicines, notably being Po Chai Pills, Ho Chai Kung Tji Thung San, Contractubex Scar Gel, Flying Eagle Wood Lok Medicated Oil, Tong Tai Chung Woodlok Oil, Doan's Ointment, Saplingtan, Shiling Oil and Col-gan Tablet have been widely recognised by the market. The Group also enriches its portfolio through in-house development or in-licensing of high value-added products covering sterile injections, oncology products, combination drugs, specialty medicines, as well as orphan drugs and biosimilars. To support its fast growing business, the Group is currently operating business offices established in China, Macau, Taiwan, Singapore and Cambodia apart from Hong Kong, giving it a regional market platform for tapping the high growing market potential in the Asia Pacific and Greater China regions. Jacobson Pharma has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017. For more details about Jacobson Pharma, please visit the Group's website: http://www.jacobsonpharma.com
About Kin Fung Weisen-U Company Limited
Kin Fung Weisen-U was incorporated in Hong Kong in 1960s and is principally engaged in the development of gastrointestinal and respiratory pharmaceutical drugs. Kin Fung Weisen-U is the brand owner and sole agent of Weisen-U in Hong Kong, Macau and the PRC. Starting from January 2019, Jean-Marie Pharmacal Co. Ltd., a wholly-owned drugs manufacturing subsidiary of Jacobson Pharma Corporation Limited, whereas its production facilities have been PIC/S (Pharmaceutical Inspection Co-operation Scheme) GMP accredited, has become the contract manufacturer of Weisen-U for Kin Fung Weisen-U.
About Jacobson Pharma Corporation Limited
Jacobson Pharma is the largest generic drug company in Hong Kong with over 30% share of the total generic drug market for each year since 2012 according to Frost & Sullivan. The Group's proprietary medicines, notably being Po Chai Pills, Tong Tai Chung Woodlok Oil, Chai Kung Tji Thung San, Contractubex Scar Gel Doan's Ointment, Flying Eagle Wood Lok Medicated Oil, Saplingtan, Shiling Oil and Col-gan Tablet are widely carried in the market. For more details about Jacobson Pharma, please visit the Group's website: http://www.jacobsonpharma.com
Source: Jacobson Pharma Corporation Limited
Sectors: Daily Finance, HealthCare
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