Press Release –
London: Thursday, 29 January 2015: Chi-Med, the pharmaceutical and healthcare company based primarily in China, today announces that Hutchison Whampoa Sinopharm Pharmaceuticals (Shanghai) Company Limited (“Hutchison Sinopharm”), a subsidiary of Chi-Med, has entered into an exclusive distribution agreement with AstraZeneca (Wuxi) Trading Co., Ltd. (“AstraZeneca”), a subsidiary of AstraZeneca PLC, to distribute and market in China the product Seroquel®, an antipsychotic prescription drug owned by AstraZeneca PLC.
Hutchison Sinopharm will be the exclusive first-tier distributor to distribute and market AstraZeneca’s Quetiapine Tablets, under the Seroquel® trademark in China. Seroquel® is a first-line antipsychotic medicine for the treatment of schizophrenia and bipolar disorder, which was launched in China in 2001. The compound annual growth rate of the antipsychotic prescription drug market in China was approximately 21% from 2009 to 2013 driven by increasing awareness, diagnosis and treatment of central nervous system related diseases in China.
Hutchison Sinopharm, established in April 2014, provides marketing and commercialisation services to pharmaceutical companies in China. Chi-Med, through Hutchison Sinopharm as well as Shanghai Hutchison Pharmaceuticals Limited, currently operates a commercial network in China of over 1,600 medical sales representatives covering more than 13,000 hospitals.
Christian Hogg, Chi-Med CEO said: “This exciting collaboration with AstraZeneca, a most important strategic partner for Chi-Med, will allow us to leverage our considerable commercial presence in China against a highly attractive and fast growing commercial opportunity. Seroquel® is a very strong global brand and we look forward to helping to grow its distribution and business in China.”
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Chi-Med |
Telephone: +852 2121 8200 |
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Panmure Gordon (UK) Limited |
Telephone: +44 20 7886 2500 |
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Citigate Dewe Rogerson Anthony Carlisle David Dible |
Telephone: +44 20 7638 9571 Mobile: +44 7973 611 888 Mobile: +44 7967 566 919 |
Chi-Med is a China-based healthcare group focused on researching, developing, manufacturing and selling pharmaceuticals and health-related consumer products. Its China Healthcare Division manufactures, markets and distributes prescription and over-the-counter pharmaceuticals in China. Its Drug R&D Division focuses on discovering and developing innovative therapeutics in oncology and autoimmune diseases. Its emerging Consumer Products Division focuses on organic and natural consumer products in Asia.
Chi-Med is majority owned by the multinational conglomerate Hutchison Whampoa Limited (SEHK:13). For more information, please visit: www.chi-med.com
AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines for gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious diseases. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit:www.astrazeneca.com