Solvotrin Therapeutics and a division of the Shanghai Fosun Pharmaceutical (Group) Co., Ltd (“Fosun Pharma”) have announced the formal signing of an enhanced long term licence and distribution agreement for the exclusive sales and distribution of the Active Iron product range in China.
The Active Iron range will be available to Chinese consumers through established e-commerce channels in the coming months. Thereafter Active Iron will target nationwide distribution through a fully owned subsidiary of Fosun Pharma, Wanbang Biopharmaceuticals (“Wanbang”) a leading healthcare group in China. There are over 300,000 pharmacies in China, Wanbang enjoys national distribution together with a leading e-Pharmacy channel and a strong network of medical reps, a critical advantage for the promotion of the Active Iron product range.
“To become a leading provider of healthcare products and services we continuously seek new innovative technologies. We are excited to provide the Active Iron range of products to the people of China.” Mr. William WU, CEO of Fosun Pharma.
Fosun Pharma’s business covers all key sectors of healthcare industry chain adhering to a mission of improving human health. The Solvotrin partnership with Fosun Pharma will also explore a clinical development program as Foods for Special Medical Purpose for Chinese patients who experience iron deficiency anaemia as a result of chronic disease. Solvotrin’s ground-breaking Active Iron technology uses an innovative method of delivering iron which significantly improves absorption and uniquely avoids the common side-effects.
“We are delighted to have finalised a licence and distribution agreement with the Fosun Group to commercialize the ActiveIron range in China and to work in collaboration to explore unmet clinical needs” said Pat O’Flynn, CEO of Solvotrin.
Solvotrin Therapeutics is a privately held Irish healthcare and medicine development company, focused on developing innovative science for significant unmet clinical needs. 2019 has seen significant global expansion for the Active Iron brand, with launches in Germany, Benelux, New Zealand and online in the USA. The licence and distribution agreement with Fosun Pharma in China coupled with further innovation and the new markets launching will contribute to achieving strong revenue growth over the next 3 years.