Equity
Hungary Richter sets up new joint venture in China
Richter will have an initial 51 % majority stake in the newly formed joint venture and the agreement terms include an upfront payment together with milestone payments linked to any further increases in Richter’s stake in the joint venture in the forthcoming years.
Richter through the newly formed JV establishes its direct presence in China with 7 regional offices and more than 200 staff, executing the promotion and lifecycle management of both Richter’s existing Rx products and licensed-in third party Rx products.
“This important transaction is considered to be a further strategic move to diversify Richter’s geographic presence by strengthening its position in China, one of the fastest growing pharmaceutical markets," Richter said in a statement on the website of the Budapest Stock Exchange (BSE).
Rxmidas at a glance
Rxmidas Pharmaceuticals Inc. is a private independent pharmaceutical company operating in China since 2007. In 2011 it posted sales of USD 40 million with a staff of over 300.
Rxmidas focuses on the sales/promotion and lifecycle management of prescription drugs in China as well as on the development of a specialty drug pipeline for the Chinese Pharmaceutical market.
Rxmidas is one of the only service providers in China that can cover the Rx and OTC markets with their own sales force and integrated services. Rxmidas claims to be a “new breed of a service provider" being a fully integrated pharmaceutical company, operating according to multinational standards and offering in house all services necessary for your products to be successful in China. The Shanghai-headquartered company has a significant coverage of the Chinese Pharmaceutical market through seven regional sales offices and a 220-strong headcount.
Richter through the newly formed JV establishes its direct presence in China with 7 regional offices and more than 200 staff, executing the promotion and lifecycle management of both Richter’s existing Rx products and licensed-in third party Rx products.
“This important transaction is considered to be a further strategic move to diversify Richter’s geographic presence by strengthening its position in China, one of the fastest growing pharmaceutical markets," Richter said in a statement on the website of the Budapest Stock Exchange (BSE).
Rxmidas at a glance
Rxmidas Pharmaceuticals Inc. is a private independent pharmaceutical company operating in China since 2007. In 2011 it posted sales of USD 40 million with a staff of over 300.
Rxmidas focuses on the sales/promotion and lifecycle management of prescription drugs in China as well as on the development of a specialty drug pipeline for the Chinese Pharmaceutical market.
Rxmidas is one of the only service providers in China that can cover the Rx and OTC markets with their own sales force and integrated services. Rxmidas claims to be a “new breed of a service provider" being a fully integrated pharmaceutical company, operating according to multinational standards and offering in house all services necessary for your products to be successful in China. The Shanghai-headquartered company has a significant coverage of the Chinese Pharmaceutical market through seven regional sales offices and a 220-strong headcount.
