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HONG KONG, Dec 21, 2014 - (ACN Newswire) - China Pioneer Pharma Holdings Limited, one of the largest comprehensive marketing, promotion and channel management service providers dedicated to imported pharmaceutical products and medical devices in China, is pleased to announce that the Group, through its wholly-owned subsidiary signed a License and Distribution Agreement (the "Agreement") with the important long-term partner, Switzerland-based pharmaceutical company Polichem S.A. ("Polichem") on 19 December 2014. Based on the long-term satisfactory business cooperation between the two parties, Polichem extend the expiry date of the Group's rights to market, promote, and sell Macmiror Complex and Macmiror in the People's Republic of China ("China") and Polimod in eight provinces in China from 30 December 2014 to 31 December 2019. Meanwhile, Polichem grants the Group rights to market, promote and sell Cripar in China. The terms of the Agreement commence from the date of signing the Agreement between the both parties and will last until 31 December 2019. The Agreement shall be further renewed for three years period after the expiration.
Macmiror Complex and Macmiror are patented products from Polichem. According to the Southern Medicine Economic Research Institute and MENET, in 2013, Macmiror Complex and Macmiror were the second best-selling nifuratel product in China. With intense and efficacious trichomonacidal, antibacterial and mycostatic action, the product is effective in the treatment of vaginitis of mixed aetiology. Polimod is the originator of pidotimod, which stimulates and regulates cell-mediated immune response and is applied to patients with immune dysfunction, was the second best-selling pidotimod product in China in 2013. After extending the Agreement, the Group is granted the rights to market, promote and sell these three products in the long run, which is expected to help the Group to further implement the sales and marketing program of the three products, and to generate sustainable revenue for the Group.
Nowadays, Cripar is the only Dihydro-a-Ergocryptine Mesylate Tablet product in China, which is important for the treatment of Parkinson's disease and senile dementia and vascular demential disease caused by nerve function degradation, Its sales in China grew at a CAGR of 40.35% from 2010 to 2013 and has huge market potential. The Group is expected to generate more profit after it is granted the rights to market, promote and sell the product in China.
Mr. LI Xinzhou, Chairman, Executive Director and Chief Executive Officer of China Pioneer Pharma said: "With the obvious aging trend of Chinese society, there is an increasing outbreak of Parkinson's disease and syndrome of senile dementia and vascular dementia caused by nerve function degradation. Cripar, as an important product for the treatment of these diseases has a broad market prospect. The signing of the Agreement with Polichem indicates the Group's strategy of developing and optimising product portfolio. The Group will carry out the marketing and promotion program in respect of the product as soon as possible, and actively increase the sales of the product, which serves to further enhance the Group's status as one of the largest comprehensive marketing, promotion and channel management service providers dedicated to imported pharmaceutical products and medical devices in China."
Topic: Press release summary
Source: China Pioneer Pharma Holdings Limited
Sectors: Daily Finance, BioTech
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