Tag: Jacobson Pharma

Jacobson Pharma Collaborates with Fosun Pharma Group to Supply Potentially 10 Million Doses of BioNTech SE’s COVID-19 Vaccine Candidate in Hong Kong and Macau

Jacobson Pharma Corporation Limited (“Jacobson Pharma” or “the Group”; Stock Code: 2633.HK), a leading company engaged in the research, development, production, marketing and sale of essential medicines and branded healthcare products in Hong Kong, today announced the signing of a letter of intent (“Letter of Intent”) with Fosun Industrial Co. Ltd., a wholly-owned subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd (“Fosun Pharma Group”; Stock Code: 600196.SH, 02196.HK) to market and supply potentially 10 million doses of BioNTech SE’s BNT162 mRNA-based vaccine candidate (the “COVID-19 Vaccine”) against SARS-CoV-2 in Hong Kong Special Administrative Region (SAR) and Macau SAR (the “Region”).

In the collaboration, Jacobson Pharma will provide all relevant support services to Fosun Pharma Group for the marketing, sales and distribution of the COVID-19 Vaccine in Hong Kong and Macau SAR regions through its extensive sales and distribution network amongst the hospital and medical clinic sectors in the region.

Mr Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma, said, “We much look forward to joining forces with Fosun Pharma Group to market and supply a potentially safe and effective COVID-19 vaccine product to effectively turn the tide of this pandemic in Hong Kong and Macau SAR regions. We will leverage our distribution network and technical resources to ensure swift accessibility of this novel mRNA-based vaccine product to answer the needs of healthcare professionals and the general public. Jacobson is particularly gratified with the opportunity to contribute and play a part in the fight against this COVID-19 pandemic.”

BioNtech SE is one of the leading mRNA-based biopharmaceutical companies in the world and is currently listed in US Nasdaq (NASDAQ: BNTX). BioNTech SE will supply the vaccines from its GMP-certified mRNA manufacturing facilities in Europe. BioNTech SE and Fosun Pharma Group announced their strategic collaboration on March 13, 2020. Based on the agreement, the two companies are working jointly on the development and commercialization of potential COVID-19 vaccine products based on BioNTech SE’s mRNA technology platform in Greater China i.e. Mainland China, Hong Kong and Macau Special Administration Regions as well as Taiwan. The vaccine candidate is a prophylactic biological product, aiming to prevent COVID-19 in adults. A phase 1 trial has already been initiated in China and the treatment of the first participants with one of the vaccine candidates from the BNT162 program, BNT162b1, was announced on August 5, 2020. All 144 participants have already been enrolled in the Phase 1 study.

About Jacobson Pharma Corporation Limited (Stock Code: 2633)
Jacobson Pharma is a leading generic drug company in Hong Kong. The Group also carries a portfolio of proprietary brands, notably Po Chai Pills, Ho Chai Kung TjiThung San, Contractubex Scar Gel, Flying Eagle Woodlok Oil, Tong Tai Chung Woodlok Oil, Doan’s Ointment, Saplingtan, Shiling Oil and Col-gan Tablet, which have been widely recognised by the market. In the strategic expansion of its branded healthcare business platform, the Group has introduced health and wellness brands and products such as Dr. FreemanFlu/RSV Combo, SmartfishHealth Nutrition Products, Dr.Freeman Infection Control Product Series and Dr Freeman COVID-19 Rapid Test Kit, among other reputable brands represented in overseas markets such as Excilor and Weisen-U.

The Group aims at the continued strategic enrichment of both of its generic drug and branded healthcare portfolios through the addition of high value-added products. With its corporate headquarters based in Hong Kong, the Group has also established its operating subsidiaries in China, Macau, Taiwan, Singapore and Cambodia forming a regional commercial platform to tap the market potential in the Asia Pacific and Greater China region. Jacobson Pharma has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017. For more details about Jacobson Pharma, please visit the Group’s website: http://www.jacobsonpharma.com

For media enquiries, please contact:
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
Stephanie Liu Tel: (852) 2864 4852 Email: stephanie.liu@sprg.com.hk
Rachel Ko Tel: (852) 2864 4806 Email: rachel.ko@sprg.com.hk
Fax: (852) 2527 1196

Jacobson Pharma Announces FY2020 Annual Results

Delivers Solid Performance Amidst Market Challenges;
Revenue Increases +6.3%;
Maintains Full-Year Dividend Per Share of HK4.5 Cents

Jacobson Pharma Corporation Limited (“Jacobson Pharma” or the “Company”; Stock Code: 2633), a leading company engaged in the research, development, production, marketing and sale of generic drugs and proprietary medicines, today announced its annual results of the Company and its subsidiaries (collectively the “Group”) for the year ended 31 March 2020 (the “FY2020” or the “Reporting Period”).

Resilient Performance under Distressed Economy
Amidst the overwhelming business challenges from the distressed economy in Hong Kong, the Group delivered a solid performance by posting a modest 6.3% year-on-year growth bringing its total revenue to HK$1,571.5 million (FY2019: HK$1,478.1 million (restated)). Gross profit grew by 2.3% to HK$690.0 million (FY2019: HK$674.7 million (restated)), while profit attributable to shareholders of the Company softened by 13.9% to HK$215.6 million (FY2019: HK$250.6 million (restated)) mainly due to the one-off revaluation gains recognised in the previous year, along with the increase in investments and operating expenses in setting up a regional management structure plus one-off professional expenses in preparing for the separation of the Group’s consumer health business.

The Board recommends payment of a final dividend of HK2.5 cents per share (FY2019: HK3.0 cents per share). Combined with the interim dividend of HK2.0 cents per share, the full-year dividend for FY2020 remains the same as last year at HK4.5 cents per share. The Group’s EBITDA (Adjusted) increased by 3.9% to HK$476.2 million, representing its strong capability of generating cash inflows.

Strong Market Position in Generics
Carrying a strong portfolio of generic drugs and a leadership position in a number of therapeutic categories in Hong Kong, the generic drugs business of the Group registered a positive growth of 3.6% in sales revenue in FY2020, amounting to HK$1,298.7 million (FY2019: HK$1,253.0 million), despite a decline in in-person consultation visits to medical clinics due to Covid-19 pandemic in the last quarter of the financial year.

The Group’s offerings in certain therapeutic classes demonstrated strong growth, with oral anti-diabetic and anti-ulcerative products registered a robust growth of 42.3% and 34.1% respectively, which was attributed to an increased usage of these essential medicines in chronic disease management. In addition, the cardiovascular products achieved a sales growth of 28.4%, whilst the non-steroidal anti-inflammatory drugs (NSAIDs) also grew by 28.7% due to an expanded market position in the public hospital sector.

The Group launched 19 new products during the reporting period, including some difficult-to-make products such as Diltiazem Controlled Release Tablets, Dihydrocodeine Tablets, Perindopril Tablets, Atomoxetine Capsules, Mesalazine Enteric Coated Tablets 500mg and Finasteride Tablets. Besides, over 27 regulatory filings were submitted for new drug registration by the Group.

Tapping New Market Potentials with High Value-added Offerings
In supplementing its R&D pipeline and portfolio offerings, the Group has signed in-license agreements with a host of multi-national companies for a total of 79 specialised drugs covering several therapeutic classes including cardiovascular, central nervous system, infectious diseases, oncology, gastrointestinal, and ophthalmology, as well as a medical device for RSV (Respiratory Syncytial Virus) and Influenza rapid diagnostics test kit. Among them, 23 items are eligible for tender bidding in the coming years, and 22 items have been launched in Hong Kong.

Notable Growth in Proprietary Medicines with Newly Acquired Business
Albeit the negative sentiments prevailing in the retail sector, the Group’s proprietary medicines business during the reporting period still registered a double-digit growth. With the incorporation of its newly acquired proprietary Chinese medicine business, sales revenue of the Group’s proprietary medicine segment posted a 21.2% growth to HK$272.8 million (FY2019: HK$225.1 million).

Despite the economic distress, resilient performance has been demonstrated by proprietary brands such as Ho Chai Kung, a well-recognised heritage brand in the analgesics category, which delivered a notable growth of 10.8% over the same period of last year. Shiling Oil, a medicated oil brand of the Group, also presented a growth of 8.4% in overseas markets building on its strong tradition and recognition backed by persistent market development efforts.

Regional Expansion Strategy with China Focus
On the front of business development driven by its regional strategy, the Group has been actively forging strategic collaborations with multinational partners that cover in-licensing and representation of reputable branded products in Greater China and Asia regions.

The Group has respectively entered an exclusive distribution agreement with Vemedia for marketing and distribution of the renowned medicated foot care brand Excilor in Mainland China and a joint venture agreement with Kin Fung Weisen-U Company Limited to distribute and sell certain of its products – including the well-recognised gastrointestinal OTC drug “Weisen-U” and the popular nasal spray brand “Flucur Nebuliser” – to new markets in the Asia Pacific region, as well as to explore and develop product extensions in broadening the proprietary medicine platform of the Group.

In the consumer nutrition arena, the Group has entered an in-license agreement with Smartfish from Norway in a strategic collaboration to launch its patented and clinically substantiated high dose Omega-3 health and sports nutrition drinks in Greater China.

Tapping into the potential of the fast-growing cross-border e-commerce in China, the Group has developed its self-operating flagship store in a leading cross-border e-commerce platform in China in collaboration with key strategic partners to fully exploit the demand for proprietary medicines and consumer healthcare products among Mainland consumers, especially in Southern China and the Greater Bay Area.

Consumer Health Spin-off to Facilitate Expansion
By leveraging its regional commercial operations and focusing its efforts to tap into the burgeoning consumer healthcare market, the Group is also actively pursuing a spin-off of its branded consumer health business comprised of a strategically selected portfolio of branded medicines, proprietary Chinese medicines, and health and wellness products including health supplements, personal care products and diagnostic kits.

The potential spin-off is expected to facilitate the expansion of the consumer health business under a separate nimble platform from the generic drug business of the Group and groundworks have been undertaken to prepare for the spin-off plan.

Mr. Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma, said, “We will continue to strive for business excellence across all divisions as we pursue our goal of creating two separate and nimble platforms through a spin-off of our branded consumer health business from the Group. This separation initiative serves as a catalyst to reset capabilities and cost base, and helps deliver a value-creation opportunity for both businesses. It is also a significant step forward in terms of shaping Jacobson into a company comprising two enterprises, one being intently focused on its generic drugs business whilst the other is principally focused on consumer health products.”

Mr. Sum added, “The dynamic and challenging environment requires us to continually assess our market position to ensure that our business remains relevant and strategically well-aligned. Looking ahead, we remain confident that by building on our reputation, strong R&D pipeline and network resources of the Group, we are well positioned to deliver a sustainable growth and returns to our shareholders in the long term.”

About Jacobson Pharma Corporation Limited (Stock Code: 2633)
Jacobson Pharma is a leading generic drug company in Hong Kong. The Group also carries a portfolio of proprietary brands, notably being Po Chai Pills, Ho Chai Kung TjiThung San, Contractubex Scar Gel, Flying Eagle Woodlok Oil, Tong Tai Chung Woodlok Oil, Doan’s Ointment, Saplingtan, Shiling Oil and Col-gan Tablet, which have been widely recognised by the market. In the strategic expansion of its branded healthcare business platform, the Group has introduced health and wellness brands and products such as Dr. FreemanFlu/RSV Combo, SmartfishHealth Nutrition Products, Dr.Freeman Infection Control Product Series and Dr Freeman COVID-19 Rapid Test Kit, among other reputable brands represented in overseas markets such as Excilor and Weisen-U.

The Group aims at the continued strategic enrichment of both of its generic drug and branded healthcare portfolios through the addition of high value-added products. With its corporate headquarters based in Hong Kong, the Group has also established its operating subsidiaries in China, Macau, Taiwan, Singapore and Cambodia forming a regional commercial platform to tap the market potential in the Asia Pacific and Greater China region. Jacobson Pharma has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017. For more details about Jacobson Pharma, please visit the Group’s website: http://www.jacobsonpharma.com

For media enquiries, please contact:
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
Stephanie Liu Tel: (852) 2864 4852 Email: stephanie.liu@sprg.com.hk
Rachel Ko Tel: (852) 2864 4806 Email:rachel.ko@sprg.com.hk
Fax: (852) 2527 1196

Jacobson Pharma Announces FY2020 Interim Results

Jacobson Pharma Corporation Limited (“Jacobson Pharma” or the “Company”; Stock Code: 2633), a leading company engaging in research, development, production, marketing and sale of generic drugs and proprietary medicines, today announced its unaudited interim results of the Company and its subsidiaries (collectively the “Group”) for the six months ended 30 September 2019 (the “reporting period”).

During the reporting period, the Group maintained a steady growth with its revenue and gross profit increased by 6.8% and 12.5% to HK$871.7 million (1H2018: HK$816.3 million) and HK$358.5 million (1H2018: HK$318.7 million) respectively. Profit from operations rose by 18.3% to HK$187.7 million (1H2018: HK$158.6 million). Profit attributable to the shareholders of the Company leapt by 30.5% to HK$127.2 million (1H2018: HK$97.5 million). Basic and diluted earnings per share were HK6.32 cents (1H2018: HK5.28 cents).

The Group maintains a healthy financial position with cash and cash equivalents of HK$718.2 million at the end of the reporting period. The Board has declared payment of an interim dividend for the six months ended 30 September 2019 of HK2.0 cents per share (1H2018: HK1.5 cents).

Mr. Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma, comments, “Focusing on our strategic growth plan, we have achieved promising progress on the business development front in terms of enhancing our product offerings and establishing a competitive regional commercial platform. Riding on our established competences and growth momentum, we have further strengthened our position as an eminent market player and have been successfully forging strategic collaborations with multinational partners covering in-licensing, technology transfer and representation of both generic drugs and branded healthcare products in the Greater China and Asia Pacific region.”

Sustained Growth for Generic Drugs
The Group’s generic drugs business delivered a stable growth of 5.3% for a revenue at approximately HK$626.9 million during the reporting period which was mainly driven by the expanded product offerings of the Group along with the rising healthcare demands resulted from aging population and prevalence of chronic diseases. Nonetheless, growth in the private sector has been undermined to certain extent by weakened retail performance across Hong Kong in the past few months.

Emerging demand for generic drugs from private sector will be catalyzed by the evolving government programs aiming to integrate certain primary healthcare services with private practices in the attempt to alleviate strains in public healthcare system, such as the General Outpatient Clinic Public-Private Partnership Program which has now been participated by around 30,000 public hospital patients suffering from hypertension, diabetes mellitus or hyperlipidemia since its launched in 2014. The Glaucoma Public-Private Partnership Program was newly introduced in 2019 aiming to provide choice to patients for receiving private specialist services in the community.

Resilience of Proprietary Medicine Brands
Referring to the sales performance of the Group’s proprietary medicines business, a modest growth was maintained during the reporting period despite the continued turmoil to the local retail industry. With the incorporation of a newly acquired proprietary Chinese medicine business, the total revenue from this segment of the Group amounted to HK$130.3 million, up by 17.7%.

In particular, Po Chai Pills, the Group’s leading Chinese gastrointestinal medicine brand, delivered a decent growth of 11.0% in its Hong Kong and Macau business in terms of sales revenue during the reporting period. Ho Chai Kung, a widely recognized heritage brand in the analgesics category of the Group, also delivered a notable growth of 27.3% in Hong Kong and Macau. Shiling Oil, a medicated oil brand of the Group, has been delivering a strong growth momentum in overseas markets presenting a 28.8% increase in sales revenue during the reporting period.

Portfolio Enhancement for High Value-added Offerings
To supplement the R&D pipeline and broaden the portfolio of specialty drugs for tapping new potentials of the market, the Group has been actively forging collaborations with strategic partners in exploiting market opportunities in the Asia Pacific region. During the Reporting Period, the Group has signed exclusive in-license agreements for a total of 19 specialized drugs with reputable manufacturers in Greece, Spain, South Korea and Taiwan. Among them, 12 items are eligible for tender bidding in the coming years.

The Group has also had a head start for the launch of two medical nutrition products in Hong Kong, namely Aterinorm from Difass in Italy and Gynositol from Indigo in France, targeting the functional food and Food for Special Medical Purpose (FSMP) markets. While in the consumer nutrition arena, the Group has entered into an in-license agreement with Smartfish from Norway in a strategic collaboration to launch its clinically-tested health and sports nutrition drinks in Asia. In addition, the recently-formed joint venture alliance with Weisen-U and Flucur Nebuliser, as well as the exclusive distributorship for the highly recognized medicated nail and foot care brand Excilor, have also enhanced the Group’s portfolio and further strengthened its market position in capitalizing on the rising consumer demand for quality branded healthcare products in the burgeoning China and Asia markets.

Mr. Sum remarks “Looking ahead, we will continue to build momentum with the strategically-aligned growth plans driving us forward. We aspire to be an eminent player in essential medicines and consumer healthcare solutions in Asia. We remain well-positioned with a balanced portfolio, a strong R&D pipeline and a sound commercial platform which will facilitate the delivery of sustainable growth for our businesses over the long term.”

Jacobson Pharma Adds Excilor to Its Portfolio to Develop China Market with Vemedia (The Netherlands)

Jacobson Pharma Corporation Limited (“Jacobson Pharma” or the “Company”; Stock Code: 2633), a leading company engaged in research, development, production, marketing and sale of generic drugs and proprietary medicines, announced today that its wholly-owned subsidiary Jacobson Medical (Hong Kong) Limited (“Jacobson”) has signed an exclusive distribution agreement (the “Agreement”) with Vemedia Shine Limited (“Vemedia”) (a wholly-owned subsidiary of Versailles B.V., a company incorporated in the Netherlands) for the marketing and distribution of “Excilor” range of products in the market of Mainland China.

Jacobson will be the exclusive distributor for Vemedia for the marketing, sales and distribution of Vemedia’s highly recognised medicated nail and foot care brand, namely “Excilor”, in the China market for a term of ten years.

Mr. Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma remarked, “The strategic collaboration represents a sound leverage of strengths and resources between Jacobson and Vemedia. By riding on its established market network, Jacobson Pharma aims to build a strong position for the Excilor brand whilst tapping the fast-growing nail and foot care market in China. It is one of our strategic goals to maximize the value and market potential of the Excilor brand and create synergies with Vemedia via a sustainable collaboration.”

The appointment of Jacobson as the exclusive distributor of Excilor in the Mainland China will enhance the product portfolio of Jacobson Pharma and further strengthen its market position in capitalizing on the rising consumer demand for branded healthcare products in the burgeoning market of China.

Jacobson Pharma has been forging strategic collaborations with various business partners. A case in point is the recently-formed joint venture alliance with Weisen-U and Flucur Nebuliser. The Group currently possesses a portfolio of proprietary healthcare brands such as Po Chai Pills, Ho Chai Kung Tji Thung San, Contractubex Scar Gel, Flying Eagle Wood Lok Medicated Oil, Tong Tai Chung Woodlok Oil, Doan’s Ointment, Saplingtan, Shiling Oil, and Col-gan Tablet.

About Jacobson Pharma Corporation Limited (Stock Code: 2633)
Jacobson Pharma is a leading generic drug company in Hong Kong. The Group’s proprietary medicines, notably being Po Chai Pills, Ho Chai Kung Tji Thung San, Contractubex Scar Gel, Flying Eagle Wood Lok Medicated Oil, Tong Tai Chung Woodlok Oil, Doan’s Ointment, Saplingtan, Shiling Oil and Col-gan Tablet have been widely recognised by the market. The Group aims to enrich its portfolio through addition of high value-added products covering sterile injections, oncology products as well as orphan drugs and biosimilars. With its corporate headquarters based in Hong Kong, the Group has also established its operating subsidiaries in China, Macau, Taiwan, Singapore and Cambodia forming a regional commercial platform to tap the market potential in the Asia Pacific and Greater China region. Jacobson Pharma has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017. For more details about Jacobson Pharma, please visit the Group’s website: http://www.jacobsonpharma.com

About Vemedia Shine Limited
Vemedia is a fast growing reputable consumer healthcare company headquartered in Diemen, the Netherlands, marketing a portfolio of leading self-medicated brands in certain European countries. Excilor, a well-recognized brand under Vemedia, primes itself as the specialist in medical foot care and enjoys a preeminent position in the over-the-counter (OTC) market for the treatment of fungal nail infection.