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HONG KONG, Mar 30, 2016 - (ACN Newswire) - China Pioneer Pharma Holdings Limited ("China Pioneer Pharma" or the "Company" or the "Group"; stock code: 01345), one of the largest comprehensive marketing, promotion and channel management service providers dedicated to imported pharmaceutical products and medical devices in China, today announced its annual results for the year ended 31 December 2015 (the "Year under Review").
During the Year under Review, the Group's revenue amounted to RMB1,460.9 million and gross profit for the year was RMB 462.6million. Excluding an impairment loss on investment in associates, an impairment loss on goodwill and the Group's share of loss of associates, the adjusted net profit of the Group amounted to RMB 257.4 million in 2015.
The Board recommends the payment of a final dividend of RMB3.6 cents per share for the year ended 31 December 2015, total dividend amounted to RMB9.3 cents per share and represents a total dividend payout ratio of 70.9% for the year ended 31 December 2015.
During the Year under Review, the Group continued to maintain its close cooperation with Alcon, the world's largest eye care products company, via the provision of co-promotion and channel management services. The Group provides channel management services for all of Alcon's 23 pharmaceutical products sold in China and provides co-promotion services for 8 of these products. For the Reporting Period, the Group's revenue generated from products sold via the provision of co-promotion and channel management services was RMB863.6 million, representing 59.1% of the Group's revenue. Due to aging population and lifestyle changes, the incidence of ophthalmic diseases continues to be on the rise. This has led to significant increase in market demand for ophthalmic pharmaceutical products. The co-promotion and channel management services the Group provides for Alcon's ophthalmic pharmaceutical products is expected to enjoy sustained development in these favorable macroeconomic trends.
During the Year under Review, revenue generated from pharmaceutical products sold via the provision of comprehensive marketing, promotion and channel management services was RMB464.5 million, representing 31.8% of the Group's revenue. Sales of the Group's more mature products, such as Difene and Fluxum, maintained stable development. Besides, the Group's rights to market, promote and sell Polimod has been extended from 8 provinces to the whole territory of China with effect from 7 March 2016, that will further increase its contribution the Group's performance.
The Group actively seeks prospective product candidates for marketing, promotion and sales from overseas pharmaceutical and medical device companies. During the Year under Review, the Group entered into a framework agreement with Inami of Japan in January 2016, pursuant to which the Group was granted the exclusive marketing, promotion and channel management rights with respect to Inami ophthalmic medical devices marketed under the "Inami" brand in China. In addition, NeutroPhase, a consumable among the Group's portfolio of medical devices and approved by the CFDA in September 2014, was officially launched in the market by the Group in 2015. The Group appointed third-party promotion partners of NeutroPhase in nearly 20 provinces and municipals, and won bids in nearly 20 cities, which covered over 50 hospitals and medical institutions (including over 20 Class III hospitals) in these cities.
In addition to the expansion of product portfolio, the Group's development strategy focuses on continuously expanding the Group's marketing network. During the Reporting Period, the Group's mature products such as Difene, increased its market coverage by over 750 new hospitals and medical institutions, and Fluxum increased its market coverage by over 300 new hospitals, representing a record breaking rate of hospital coverage growth over the years. As of 31 December 2015, the Group sold products through its nationwide marketing, promotion and channel management services networks to over 29,500 hospitals and other medical institutions and over 106,000 pharmacies across 31 provinces, municipalities and autonomous regions in China.
The Group also actively expanded the development of associates and made significant investment. As of 31 December 2015, the Group through Pioneer Singapore held 100% equity interest in Covex. The Group purchases Vinpocetine API from the Covex Group and believes that the investment will enable the Group to obtain a stable supply of high quality Vinpocetine API at a low cost. The Group has completed several rounds of investments towards Novabay.
Novabay has adjuested to focus primarily on commercializing prescription Avenova in the United States since the second half of 2015 and achieved success. The Group is firmly optimistic about its future.
Mr. LI Xinzhou, Chairman and Executive Director of China Pioneer Pharma concludes, "As a crucial year of comprehensively health care reform, 2015 witnessed the announcement of several government policies which have significant and far-reaching impact on China's pharmaceutical industry. We have made tremendous efforts to minimize the extent of such impact on the Group. he Group will further position its role in the Chinese pharmaceutical industrial chain and dedicate to provide marketing, promotion and channel management service for imported pharmaceutical products and medical devices in China. The Group will also focus on two core development strategies, namely further development and optimization of product portfolio, and expansion and improvement of marketing network. The Group will take advantage of its competitive strength and seize any opportunities that arise to achieve sustainable development."
Mr. LI Xinzhou added, "Looking forward, the Group will continue to proactively select products with high growth potential and add more prospective products to its portfolio. Meanwhile, the Group will continue to improve its sales and marketing network, further strengthen the building of professional in-house team and enhance the management of third-party promotion partners, tap into the unfilled market for potential products and while increase market share in existing market for matured products, so as to optimize the Group's marketing resources and maximize the products' market value and deliver outstanding returns to our shareholders".
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, covering ophthalmology, pain management, cardiovascular, respiratory, gastroenterology, immunology and other therapeutic areas and a range of medical devices. The Company retains over 10 products to continue its process of registeringor preparing the registration application with the China Food and Drug Administration. As of 31 December 2015, the Group sold products through its nationwide marketing, promotion and channel management services networks to over 29,500 hospitals and other medical institutions and over 106,000 pharmacies across all provinces, municipalities and autonomous regions in China.
Topic: Press release summary
Source: China Pioneer Pharma Holdings Limited
Sectors: Daily News, BioTech
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