STOCKHOLM, Jan. 22, 2020 /PRNewswire/ -- Enzymatica has entered into a 7-years exclusive distribution agreement with Keyuan Xinhai (Beijing) Medical Products Trade Co. Ltd., a subsidiary of the second largest pharmaceutical industry group in China, Shanghai Pharma, for marketing and sales of ColdZyme® cold spray in China. According to the agreement Keyuan Trade has guaranteed orders over the first 5 years from launch of SEK 92 million. The agreement provides Enzymatica with access to one of the world's largest health care markets, with a population of about 1.3 billion and a cough and cold market with annual sales of about YUAN 27 billion (*MENET, 2018), or SEK 37 billion, with an annual growth rate of about 8%. The product is expected to be launched on the Chinese market in 2022.
Keyuan Trade is a comprehensive service provider specializing in imported medical products, with a business area covering all of China. Keyuan Trade has more than 700 commercial distributors across the country, and covers more than 70 of the top 100 Chinese pharmacy chains, equivalent to more than 40,000 pharmacies, and over 300 DTP - Directly to Patient pharmacies, and independent drugstores, and more than 1,700 CDC - Center for Disease Control and Prevention. Keyuan Trade will soon initiate the registration of ColdZyme and the company plans to launch the product in 3 years.
"We see excellent potential for ColdZyme in our market, given the successful launch in other markets. We consider being able to sell a product that addresses the cause of colds - viruses - to be a major advantage compared with most cold products, which are aimed at alleviating symptoms," says Mr. Chu Chenxi, General Manager of Keyuan.
"We are extremely pleased about the agreement with Keyuan, which is a well-established and highly respected medical products distributor with a strong distribution network in the Chinese market. The agreement is a major step in achieving our growth strategy for international expansion," says Fredrik Lindberg, CEO of Enzymatica.
About Keyuan and Shanghai Pharma
Shanghai Pharmaceuticals Holding Co. Ltd. ("Shanghai Pharma") is partly state owned and engaged in research and development, manufacturing, distribution and retailing of pharmaceutical products. The company is headquartered in Shanghai China and the stock is dual listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange. Keyuan Xinhai (Beijing) Medical Products Trade Ltd. ("Keyuan Trade"), the largest commercial distribution company within Shanghai Pharma, is a distributor for over 35 multinational cooperations on pharmaceutical and medical device.
The information in this press release is information that Enzymatica is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 13.00 pm on 22 January, 2020.
For more information, please contact:
CEO Enzymatica AB
Communication Manager Enzymatica AB
About Enzymatica AB
Enzymatica AB is a Swedish life science company that develops and sells health care products for primarily conditions of the ear-nose-and-throat region. The products are based on a barrier technology that includes marine enzymes. The company's first product is the medical device ColdZyme®, a mouth spray against common cold. The product has been launched in about ten markets. The strategy is to continue to grow by developing more health care products and strengthening the company's position in existing markets and expanding into new geographic markets through established partners. The company has its headquarters in Lund and is listed on Nasdaq First North Growth Market. For more information, visit: www.enzymatica.com and www.enzymatica.se/en/section/media/press-releases
Enzymatica's certified adviser is Erik Penser Bank.
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SE-223 70 Lund, Sweden
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Mr Chu Chenxi Keyuan Xinhai Medical and Fredrik Lindberg Enzymatica
SOURCE Enzymatica AB