Universe Pharmaceuticals, Kitanihon join forces for Kampo and Chinese medicines
Universe Pharmaceuticals, a Chinese pharma producer and distributor, has announced a partnership with Kitanihon Pharmaceutical (KP), a Japanese firm focused on Kampo, a Japanese herbal medicine.
The objective of the partnership is to address market demand for Kampo as well as high-end traditional Chinese medicine.
As per their agreements, Universe Pharmaceuticals and Kitanihon Pharmaceutical will exchange stakes in each other’s businesses.
Furthermore, the partners will jointly construct a new manufacturing plant in Ji’an, Jiangxi Province in China, in accordance with the market access requirements from the Japanese Pharmaceutical and Medical Devices Agency (PMDA).
The new manufacturing facility will mainly produce Kampo medicine and high-end high-end traditional Chinese medicine products. Products coming out of the facility will be sold in Japan, Southeast Asia, and nations participating in China’s Belt and Road initiative.
Universe Pharmaceuticals said that Kitanihon Pharmaceutical’s CEO — Nishimura Ichiri will be named as its foreign expert.
Gang Lai — Chairman and CEO of Universe Pharmaceuticals said: “We are pleased to have KP as our strategic partner to address the demands for Kampo medicine and high-end TCM products, which we believe is significant for the Company’s long-term development. In addition, we are very excited to have Mr. Ichiri, a well-known expert in Kampo medicine in Japan, join the Company as Foreign Expert.
“With the cooperation of KP and the addition of Mr. Ichiri, the Company will establish its presence in the Kampo medicine market and further strengthen its position and capability in the traditional Chinese medicine market. We expect to generate a revenue of RMB2 billion with a profit of RMB260 million annually within five years after the launch of the Facility.
“Looking forward, we will strive to become a benchmark company in the pharmaceutical industry by implementing our innovative and efficient business model of Sino-Japanese cooperation.”