Richter to establish new JV in China

Pharma

Pharmaceutical company Gedeon Richter announced on Monday that it had signed a series of agreements with the owners of its marketing partner, Rxmidas Pharmaceuticals Co. Ltd., targeting a reshaped and stronger direct presence on the Chinese pharmaceutical market.

Richter will have an initial 51% majority stake in the newly formed joint venture and the agreement terms include an upfront payment together with milestone payments linked to any further increases in Richter’s stake in the joint venture in the forthcoming years.

Through the newly formed JV, Richter establishes its direct presence in China with seven regional offices and more than 200 staff, executing the promotion and lifecycle management of both Richter’s existing Rx products and licensed-in third party Rx products, the press release reads.

This important transaction is considered to be a further strategic move to diversify Richter’s geographic presence by strengthening its position in China, one of the fastest growing pharmaceutical markets, the company said.

China’s Rxmidas is a private company founded at the end of 2007. It focuses on the sales/promotion and lifecycle management of prescription drugs in China as well as on the development of a specialty drug pipeline for the Chinese Pharmaceutical market. Rxmidas is based in Shanghai and has a significant coverage of the Chinese Pharmaceutical market through its seven sales offices and 220 employees.

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.