Jacobson Pharma and Yunnan Baiyao Group to Continue Exploring Further Possibilities of Business Cooperation and Other Collaborations
HONG KONG, May 08, 2019 - (ACN Newswire) - Jacobson Pharma Corporation Limited ("Jacobson Pharma" or the "Group"; Stock Code: 2633), a leading company engaging in the research, development, production, marketing and sale of generic drugs and proprietary medicines, has been informed by Yunnan Baiyao Holdings Company Limited1 ("Baiyao Holdings") and Yunnan Baiyao Group Co.,Ltd. ("Yunnan Baiyao Group") that Baiyao Holdings will be merged into and absorbed by Yunnan Baiyao Group. Currently, Baiyao Holdings holds 200,000,000 shares of Jacobson Pharma, representing approximately 9.92% of the total number of the Group's issued shares. Upon completion of the merger, such 200,000,000 shares are to be held by Yunnan Baiyao Group as the merged entity. Yunnan Baiyao Group is also to actively accelerate exploring potential business cooperation as stated in the letter of intent previously agreed with Jacobson Pharma.
Yunnan Baiyao Group is a renowned and respected brand and a leading company which has developed 16 pharmaceutical dosage forms with more than 370 products. The company initiated the merger proposal in October 2018 which was approved by the China Securities Regulatory Commission in late April 2019, approving it to issue shares as it absorbs Yunnan Baiyao. After the completion of the merger, Yunnan Baiyao Group's operating income is expected to grow to more than RMB27 billion. With its strong financial strength, Yunnan Baiyao Group could leverage its brand, channel and medical resources through in-licensing, strategic cooperation, new product development as well as mergers and acquisitions to fuel business expansion and reinforce competitive strengths.
Jacobson Pharma has pre-eminent leadership in generics, specialty drugs and proprietary medicines in the industry. Backed by a vertically-integrated value chain and advanced production facilities, and bolstered by its robust product portfolio, the Group has one of the most extensive sales and distribution networks covering both the private and public market sectors in Hong Kong. Meanwhile, with Hong Kong as its base, Jacobson Pharma has set to expand its regional platform and is poised to strategically collaborate with reputable manufacturers globally for establishing footholds in Asia Pacific including China, Korea, Japan, Taiwan, Singapore, Malaysia, Cambodia, Myanmar, Thailand and Vietnam.
Jacobson Pharma has previously entered into a letter of intent with Baiyao Holdings pursuant to which the parties agreed to conduct feasibility studies on possible business cooperation and other collaborations. In the future, the Group will continue to actively examine such further possibilities with Baiyao Holdings to broaden and deepen its market coverage in China and Asia Pacific in forging a competitive regional commercial platform aiming to deliver sustainable values for shareholders.
About Jacobson Pharma Corporation Limited (Stock Code: 2633) Jacobson Pharma is the largest generic drug company in Hong Kong with over 30% share of the total generic drug market for each year since 2012. The Group's proprietary medicines, notably being Po Chai Pills, Tong Tai Chung Woodlok Oil, Ho Chai Kung Tji Thung San, Contractubex Scar Gel Doan's Ointment, Flying Eagle Wood Lok Medicated Oil, Saplingtan, Shiling Oil and Col-gan Tablet have been widely recognized by the market. Jacobson Pharma has been a constituent 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
For media enquiries, please contact: Strategic Financial Relations Limited Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk Stephanie Liu Tel: (852) 2864 4852 Email: stephanie.liu@sprg.com.hk Tika Lum Tel: (852) 2864 4806 Email: tika.lum@sprg.com.hk Fax: (852) 2527 1196
Source: Jacobson Pharma Corporation Limited Sectors: Daily Finance, Daily News, Healthcare & Pharm
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
Latest Release
CleverTap Recognized as a 'Strong Performer' in the Cross-Channel Marketing Hubs, Q4 2024 Report Nov 22, 2024 22:42 JST
| Kaplan Fox & Kilsheimer LLP Alerts Investors to a Securities Class Action Against Humacyte, Inc. (HUMA) - Deadline is January 17, 2025 Nov 22, 2024 11:00 JST
| NaaS Q3 2024 Recap: Strategic Shifts and Tech Innovations for Growth Nov 21, 2024 22:59 JST
| Honda Unveils Demonstration Production Line for All-Solid-State Batteries Located in Sakura City, Tochigi Prefecture, Japan Nov 21, 2024 15:35 JST
| Deadline to Lead in Securities Fraud Lawsuit Against Humacyte, Inc. (HUMA) is January 17, 2025 - Contact Kaplan Fox & Kilsheimer LLP Nov 21, 2024 09:00 JST
| ALL Study Groups Using DehydraTECH Processing Outperform Rybelsus(R) in Body Weight Control in Lexaria's 12-Week GLP-1, Diabetes Animal Study Nov 20, 2024 23:05 JST
| Start of Demonstration Test of Two-Phase Direct-to-Chip Cooling in the Air-Cooled Data Center Nov 20, 2024 15:30 JST
| Rozebalamin for Injection 25mg (Mecobalamin) for Amyotrophic Lateral Sclerosis Launched in Japan Nov 20, 2024 11:51 JST
| Anticancer Agent "TASFYGO Tablets 35mg" (Tasurgratinib Succinate) Launches in Japan for Biliary Tract Cancer with FGFR2 Gene Fusion or Rearrangements Nov 20, 2024 10:24 JST
| Kingsoft Announces 2024 Third Quarter Results Nov 19, 2024 18:54 JST
| NTT and Olympus Joint Demonstration Shows IOWN APN's Low-latency Capability Can Be Used for Real-time Diagnosis and Treatment on a Remote Server to Realize World's First Cloud Endoscopy System Nov 19, 2024 15:30 JST
| Supercomputer Fugaku retains first place worldwide in HPCG and Graph500 rankings Nov 19, 2024 09:02 JST
| CleverTap Recognized as a Strong Performer in Cross-Channel Marketing Hubs, Q4 2024 Report Nov 18, 2024 23:30 JST
| World's First Successful Trial of Quantum Tokens Created Using Quantum Technology Nov 18, 2024 17:29 JST
| Fujitsu and SAP Fioneer enter partnership to accelerate digital transformation in the insurance industry and deliver services that contribute to customers' sustainable business Nov 18, 2024 12:31 JST
| Expanding Possibilities with the Liquid Hydrogen-Powered GR Corolla in the Season Final Round Nov 18, 2024 09:25 JST
| COP29: Indonesian Special Envoy Hashim Djojohadikusumo Announces EUR 1,2 Billion Green Funding Nov 16, 2024 18:00 JST
| Mitsubishi Shipbuilding Holds Christening and Launch Ceremony of LNG-Powered Roll-on/Roll-off Ship TRANS HARMONY EMERALD in Shimonoseki Nov 15, 2024 18:58 JST
| Nationwide TV Commercial Launched in Japan to Raise Awareness About MCI (Mild Cognitive Impairment) Nov 15, 2024 17:33 JST
| Eisai Receives Positive Opinion from the CHMP in the European Union for Lecanemab in Early Alzheimer's Disease Nov 15, 2024 14:31 JST
|
More Latest Release >>
|