Ban Loong, Jacobson & JBM Form Joint Venture to Tap Specialty Drugs and Branded Healthcare Markets in Greater China and Asia
HONG KONG, Jun 15, 2022 – (ACN Newswire via SEAPRWire.com) – Ban Loong Holdings Limited (“Ban Loong”, together with its subsidiaries, “Ban Loong Group”; stock code: 0030.HK), of which Yunnan Baiyao Group Co., Ltd. (stock code: 000538.SHE) is the controlling shareholder, Jacobson Pharma Corporation Limited (“Jacobson”, together with its subsidiaries (excluding JBM Group), “Jacobson Group”; stock code: 2633.HK) and JBM (Healthcare) Limited (“JBM”, together with its subsidiaries, “JBM Group”; stock code: 2161.HK) jointly announced today on forming Ban Loong Jacobson JBM Pharma Limited (the “Joint Venture”) to capture the growth opportunities of the specialty pharmaceuticals and branded healthcare markets in Greater China and the Asia-Pacific region.
Mr. Tang Ming, Chief Executive Officer of Ban Loong and Mr. Yim Chun Leung, Executive Director of Jacobson & Non-executive Director of JBM
witness the signing ceremony; Front row: From left to right: Mr. Liu Zhouyang, Executive Director & Deputy Chief Executive Officer of Ban Loong and Mr. Yu Chun Kau, Chief Financial Officer of Jacobson sign the Joint Venture Agreement
The Joint Venture, which is owned 60% by Ban Loong, 20% by Jacobson and 20% by JBM respectively, will principally engage in the in-licensing of specialty pharmaceuticals (including orphan drugs), over-the-counter medicines, branded healthcare products (including herb-based products) and medical devices, and the sales and distribution of the products to Greater China and selected markets in Asia, alongside tapping merger and acquisition opportunities with a strategic fit.
Leveraging the partner companies’ respective market knowhow, capabilities and network, the Joint Venture is aimed at establishing a strong foothold and realizing tangible business opportunities available in the high-growth specialty pharmaceuticals, branded healthcare products and medical device markets in the aforementioned regions.
Mr. Tang Ming, Chief Executive Officer of Ban Loong, said, “In light of the promising growth of the pharmaceutical, healthcare and medical device markets in Greater China and the Asia-Pacific region, coupled with the increased awareness of personal healthcare in the post-pandemic era, there is a substantial market potential for the Joint Venture to capture. Indeed, a strong growth forecast is also expected in the next few years, with an average annual growth rate of over 9% in the pharmaceutical and healthcare markets in China. We are excited with the strategic partnership with Jacobson and JBM in expanding our healthcare trading portfolio and riding on our synergetic strengths to seize and realize the opportunities in the markets.”
Mr. Raymond Yim, Executive Director of Jacobson, said, “We are very honored to partner with Ban Loong and aspire to strengthen our foothold through the Joint Venture in Greater China and markets in Asia. In line with our market expansion strategy, the Joint Venture will facilitate and enhance our access to the specialty drugs, branded healthcare products and medical devices markets in the regions, as well as generate cross-selling synergies for respective partner’s products marketed and distributed through the Joint Venture platform. “
About Ban Loong Holdings Limited (Stock Code: 0030)
Ban Loong Holdings Limited is an internationalized healthcare products trading company with its business presence covering Greater China and key Asian markets including Japan, South Korea and ASEAN countries, as an authorized general agent for branded products from the United States, Switzerland and other European Union firms, Ban Loong possesses a wide range of well-selected healthcare products in its portfolio. For more details about Ban Loong, please visit the Group’s website: http://0030.com.hk
About Jacobson Pharma Corporation Limited (Stock Code: 2633)
Jacobson Pharma is a leading pharmaceutical company in Hong Kong vertically integrated and engaged in the research, development, production, sale and distribution of essential medicines and specialty drugs. As a major provider of generic drugs in Hong Kong, the Group has one of the most extensive sales and distribution coverage for both the private and public sectors in Hong Kong, with an expanding reach into strategically selected Asian markets. Carrying a broad product portfolio and taking a pre-eminent market position in a number of therapeutic categories, the Group operates a host of 10 PIC/S GMP licensed production facilities for generic drugs in Hong Kong.
The Group aims at the continued strategic enrichment of its generic drug portfolios through the addition of high-value-added products. With its corporate headquarters based in Hong Kong, the Group has also established its operating subsidiaries in China, Macau, Taiwan, Singapore and Cambodia, forming a regional commercial platform to tap the market potential in the Asia Pacific and Greater China region. Jacobson Pharma has been a constituent stock 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
About JBM (Healthcare) Limited (Stock Code: 2161)
JBM Healthcare is a Hong Kong-based company that markets and distributes branded healthcare products across Greater China, Southeast Asia and certain other countries. The Group is a unique field player with marketing expertise and a drug heritage that prioritizes product efficacy and quality to meet consumers’ healthcare needs. As a renowned healthcare brand operator in Hong Kong, the Group carries a wide-ranging portfolio of branded healthcare products comprising branded medicines, proprietary Chinese medicines and health and wellness products, which include well-recognized household brands such as Po Chai Pills, Ho Chai Kung Tji Thung San, Contractubex, BITE-X, Mederma Kids, Tong Tai Chung Woodlok Oil, Flying Eagle Woodlok Oil, Saplingtan and Shiling Oil. JBM Healthcare has been a constituent stock of the MSCI Hong Kong Micro Cap Index since 27 May 2021. For more details about JBM Healthcare, please visit: www.jbmhealthcare.com.hk
Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)