Jacobson Pharma's Chairman Uplifts Shareholding to Above 60%

Mar 14, 2022 20:58 JST

Source: Jacobson Pharma Corporation Limited

Demonstrates Confidence in Group's Long-term Prospects

HONG KONG, Mar 14, 2022 - (ACN Newswire) - Mr. Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma Corporation Limited (the "Company"; together with its subsidiaries, the "Group"; Stock Code: 2633), a leading company engaged in the research, development, production, marketing and sale of essential medicines, specialty drugs and branded healthcare products, acquired through his controlled entity a total of 20,532,000 shares of the Company (the "Shares") between 15 December 2021 and 14 March 2022 on the market at a total consideration of approximately HK$13,460,000, representing an average price of approximately HK$0.6555 per Share (the "Acquisitions").

The above share purchase represents approximately 1.06% of the total issued share capital of the Company as at 14 March 2022. Following the Acquisitions, Mr. Sum is interested in an aggregate of 1,160,808,000 Shares, representing approximately 60.01% of the total issued share capital of the Company as at the date of the related announcement.

Speaking with sound optimism about the future prospects of the Group, Mr. Sum went on to say, "Albeit the challenging market environment, the overall business, in particular the generic drugs, has shown great strength and resilience in the face of the ongoing pandemic. We remain steadfast to realize the growth potential of our robust product portfolios alongside a strong commercial and operational set-up. I have strong confidence in the long-term development of the Group."

Mr Sum said he might consider further increasing his shareholding in the Company subject to the applicable laws and regulations.

About Jacobson Pharma Corporation Limited (Stock Code: 2633)
Jacobson Pharma is a leading pharmaceutical company in Hong Kong vertically integrated engaged in the research, development, production, sale and distribution of essential medicines and specialty drugs. As a major provider of generic drugs in Hong Kong, the Group has one of the most extensive sales and distribution coverage for both the private and public market sectors in Hong Kong, with an expanding reach into strategically selected Asian markets. Carrying a broad product portfolio and taking a pre-eminent market position in a number of therapeutic categories, the Group operates a host of 10 PIC/S GMP licensed production facilities for generic drugs in Hong Kong.

The Group aims at the continued strategic enrichment of its generic drug portfolios through the addition of high value-added products. With its corporate headquarters based in Hong Kong, the Group has also established its operating subsidiaries in China, Macau, Taiwan, Singapore and Cambodia forming a regional commercial platform to tap the market potential in the Asia Pacific and Greater China region. 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

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Source: Jacobson Pharma Corporation Limited
Sectors: Daily Finance, BioTech, Healthcare & Pharm