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HONG KONG, Feb 25, 2016 - (ACN Newswire) - China Pioneer Pharma Holdings Limited ("China Pioneer Pharma" or the "Company" or the "Group",stock code: 01345), is pleased to announce that today, the Group, through its wholly-owned subsidiary Naqu Area Pioneer Pharma Co., Ltd., entered into a supplemental agreement (the "Supplemental Agreement") with Switzerland-based pharmaceutical company Polichem, pursuant to which the Group's rights to market, promote and sell Polimod shall be extended from eight provinces in the People's Republic of China ("China") to the whole territory of China with effect from 7 March 2016.
In 2011,China Pioneer Pharma was first authorised to market, promote and sell Polimod in eight provinces in China and it has become one of the most important products of the Group. The revenue generated from Polimod separately represents approximately 5% and 9% of the total revenue of the Group for the year ended 31 December 2014 and for the six months ended 30 June 2015. With the extension of the Group's rights to market, promote and sell Polimod to the whole territory of China, it is expected to further increase its contribution to the Group's revenue. Polimod is the fourth product that the Group is granted the rights to market,promote and sell in whole China following Macmiror Complex, Macmiror and Cripar. The terms of the Agreement will last until the end of 2019 and shall be automatically renewed for successive three years period.
Mr. LI Xinzhou, Chairman and Executive Director of China Pioneer Pharma said: "With the increasing environmental pollution problem and growing life stressors, there is an increasing outbreak of immune system disease. Polimod, as an important product for the treatment of these diseases has a broad market prospection in China. Being as one of the important products of the Group, it is considered to be associated with a vast market demand and development potential. The Supplemental Agreement with Polichem demonstrates the sustainable relationship and mutual trust between the Group and the suppliers. We believe it will help the Group to further implement our sales and marketing program of such products, and to generate sustainable revenue for the Group in the future.
About Polichemand Polimod
Polichem is a Switzerland-based pharmaceutical company with a broad range of experience in all aspects of medical product development with an operation history over 60 years. It is devoted to providing customers worldwide with a high-quality and innovative product portfolio. Polichem focuses mainly on dermatological and gynecological products, with its product portfolio covering other therapeutic areas including neurology and respiratory diseases.
Polimod (pidotimod) is a synthetic oral immune stimulant, which works by stimulating and regulating cell-mediated immune response, and is applied to patients with immune dysfunction, such as respiratory tract infections, otolaryngology infections, urinary tract infections and gynaecological infections. Polimod is the originator of pidotimod. According to the Southern Medicine Economic Research Institute and China Medical and Pharmaceutical Economic Information Network, Polimod was the second best-selling pidotimod product in China in 2013.
About China Pioneer Pharma Holdings Limited
China Pioneer Pharma is one of the leading comprehensive marketing, promotion and channel management service providers dedicated to imported pharmaceutical products and medical devices in China. The Group was established in 1996, and was listed on the Main Board of the Hong Kong Stock Exchange (Stock code: 01345) on 5 November 2013. The Company has strategically focused on providing comprehensive marketing, promotion and channel management services to small and medium sized overseas suppliers, and is generally the sole provider of such services in China for the relevant products. China Pioneer Pharma runs a diversified range of imported products (substantially all of which are prescription products), covering ophthalmology, pain management, cardiovascular, respiratory, gastroenterology, immunology and other therapeutic areas and a range of medical devices covering four medical specialties, including ophthalmology, odontology and wound care. The Company has also secured marketing, promotion and sales rights for over 20 additional products, which are in the registration process under China Food and Drug Administration for their importation and sales in China. As of 30 June 2015,the Company sold products through its nationwide marketing, promotion and channel management services networks to over 29,000 hospitals and other medical institutions and over 105,000 pharmacies across 31 provinces, municipalities and autonomous regions in China.
Topic: Press release summary
Source: China Pioneer Pharma Holdings Limited
Sectors: Daily News
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