Expands Branded Product Portfolio and Develops New Markets for Gastrointestinal and Respiratory Products
HONG KONG, CHINA – Media OutReach – 31 October 2019 – 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” (「胃仙-U」) and the popular
nasal spray brand “Flucur Nebuliser” (「呼佳噴霧劑」) 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 (「胃仙-U」) and Po Chai
Pills (「保濟丸」). 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 (雅各臣科研製藥有限公司；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 (「保濟丸」), Ho Chai
Kung Tji Thung San (「何濟公止痛退熱散」), Contractubex Scar Gel (「秀碧除疤膏」) , Flying Eagle Wood Lok Medicated Oil (「飛鷹活絡油」), Tong Tai Chung Woodlok Oil (「唐太宗活絡油」), Doan’s Ointment (「兜安氏藥膏」), Saplingtan (「十靈丹」), Shiling Oil (「十靈油」) and Col-gan Tablet (「傷風克」) 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 (「胃仙-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 (「胃仙-U」) for Kin Fung Weisen-U.
