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HONG KONG, Sept 1, 2014 - (ACN Newswire) - Uni-Bio Science Group Limited ("Uni-Bio" or the "Group;" HKEx code: 690) today announced that it has entered into a strategic alliance agreement with Samil Pharm Co., Limited ("Samil"; stock code: 000520.KS), a pharmaceutical company listed on the Korea Stock Exchange. Under the agreement, the Group is to be appointed as Samil's exclusive distributor for its pharmaceutical products in mainland China, Hong Kong and Macau (collectively, the "Territory") for eight years. The Group can also choose to extend the agreement for another four years afterwards. This strategic alliance marks another milestone in Uni-Bio's development in China under the leadership of the new management team and Board of Directors.
 | | Uni-Bio Science Group Forms Strategic Alliance with Korean Pharmaceutical Company Samil |
Mr. TONG Kit Shing, Chairman of Uni-Bio Science Group said, "Samil is a renowned and well established ophthalmology player within the pharmaceutical industry, and they have a history spanning 60 years. We are very excited that they are our first partners under the new partnership model whereby we work with reputable foreign pharmaceutical companies to bring advanced treatments into China. This strategic alliance should strengthen our position in China and provide a template to attract other quality companies as business partners."
Samil's products to be exclusively distributed by the Group include:
-- Rhinex Nasal Spray - a second generation synthetic corticosteroid for treatment of seasonal and perennial rhinitis;
-- Ocucyclo - an anti-cholinergic agent for mydriasis (dilation of pupil) and cycloplegia (paralysis of ciliary muscle for use in eyesight examination);
-- Lantanoprost - a prostaglandin analogue for the treatment of open-angle glaucoma and ocular hypertension;
-- Allenol Eye Drop - possesses antihistamine and anticholinergic properties for use in allergic conjunctivitis (eye allergy).
"With the addition of Samil's products, we have strengthened our ophthalmology portfolio to four drugs. We have the option to partner with more of Samil's products in future. In the meantime, we have chosen these products first because we believe the market is large with limited competition, and the regulatory and clinical barrier to entry is low," added Mr. Tong.
Subject to Samil having obtained all necessary licences and permits for the distribution of the four products in the Territory, the Group will commence to distribute such products principally in mainland China in or around 2018.
The Group will continue to seek additional opportunities within the therapeutic focus of diabetes, ophthalmology and dermatology. Additional synergistic partnerships should more efficiently broaden the Group's income base and increase its market share. In due time, the Group would like to reach the key strategic objective of becoming the "Partner of Choice" in China and a leader within each therapeutic space.
Contact:
Strategic Financial Relations Limited
Veron Ng Phone: +852 2864 4831 Email: veron.ng@sprg.com.hk
Angelus Lau Phone: +852 2864 4805 Email: angelus.lau@sprg.com.hk
Winkie Wong Phone: +852 2114 4319 Email: winkle.wong@sprg.com.hk
Fax: +852 2527 1196
Topic: Press release summary
Source: Uni-Bio Science Group Limited
Sectors: Daily Finance, Daily News, BioTech
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From the Asia Corporate News Network
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