HRA Pharma has announced the next phase of its international expansion into China, the second largest and most dynamic consumer healthcare (CHC) market in the world.
HRA Pharma and Profex, a leading specialty pharmaceutical and personal care company focusing on skin health and medical aesthetics in China, announced the formation of a joint venture to independently operate the distribution and promotion of some of HRA Pharma’s superior consumer healthcare brands. The formation of the joint venture represents the basis of the strategic alliance between the two companies, which aims to capitalize on the long-term opportunity presented by consumer healthcare in China.
The joint venture entity, called HRA Pharma China, will focus on marketing, distributing and selling HRA Pharma’s CHC products in China and Hong Kong, primarily Compeed® and other future high potential brands.
HRA launched Compeed® through Cross Border E-Commerce (CBEC) in April 2019, and the creation of a subsidiary in China will lead to accelerated growth with access to the general trade market through both online and offline distribution. This will provide Chinese consumers with broader access to the best hydrocolloid technology available for blister plasters. Products will be available in general trade from Q2-2020.
Philip Xiao, CEO of Profex, says, “We are delighted to add the new category-leading brands to our portfolio and look forward to developing their full potential in China”
David Wright, CEO of HRA Pharma, says, “We are excited about the launch of HRA Pharma China as it signifies the continued growth of HRA Pharma’s consumer healthcare portfolio into the Chinese market.”