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HONG KONG, Dec 2, 2014 - (ACN Newswire) - China Pioneer Pharma Holdings Limited announced that the Group through its wholly-owned subsidiary signed an agreement, with its important long-term partner Alfa Wassermann S.p.A of Italy for its product of creatine phosphate sodium for injection ("Neoton") on 2 December, 2014. According to the Agreement, the Group through its wholly-owned subsidiary was granted by Alfa Wassermann the exclusive importation, sales and co-promotion rights of Neoton in the People's Republic of China (excluding Hong Kong, Macao Special Administrative Region and Taiwan). The term of the Agreement shall start from today until 31 December, 2019.
Neoton is first successfully produced by Alfa Wassermann of Italy and used for medical purposes in the whole world, as an original imported drug with European and the American patents. It is primarily used for ischemic heart diseases and cardiomyopathy resulting from various causes. Neoton is added to cardioplegia during cardiac surgery to protect cardiac muscles and is also used to treat metabolic disorders in myocardial ischemic states. The Product has been awarded with patents in Europe and the United States, and is widely used in European and American markets for a long time. According to the Southern Medicine Economic Research Institute and MENET, creatine phosphate was the seventh best-selling chemical drug and the second best-selling cardiovascular drug measured by sales to hospitals in China in 2013, therefore this Product has great potential in China.
Mr. LI Xinzhou, Chairman, Executive Director and Chief Executive Officer of China Pioneer Pharma said: Alfa Wassermann, the supplier of our FLUXUM product since 2004, also granted us a second product Neoton for the rights of sales and co-promotion within five provinces in 2012. With continuously close and in-depth cooperation, we are granted the exclusive importation, sales and co-promotion rights towards Neoton across the nation. It will be beneficial to both sides through effective development and the expansion of channels, sales and other resources to achieve synergy for mutual benefit. After signing the Agreement, the Group will actively increase the sales of the Product through the advantages derived from the granted exclusive importation, sales and co-promotion rights of the Product, which will in turn further strengthen the Group's position as a leading marketing, promotion and channel management service provider dedicated to imported pharmaceutical products and medical devices in China, continually drive the Group's business growth as well as profitability to create greater value for shareholders and investors.
Topic: Press release summary
Source: China Pioneer Pharma Holdings Limited
Sectors: Daily Finance, Daily News, BioTech
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