HONG KONG, Dec. 1, 2016 /PRNewswire/ -- Luye Pharma Group Ltd. (2186.HK) is pleased to announce the completion of its acquisition of the transdermal drug delivery systems (TDS) business from Swiss company, Acino. The acquired business is a global leader in niche transdermal markets and will greatly enhance Luye's developmental efforts in R&D, manufacturing, international registration, and market promotion of new formulation products to international standards, thereby helping to pave the way for Luye's expansion into global markets.
The acquired business is one of the largest independent TDS manufacturers in Europe, with a product portfolio primarily focused on more sophisticated and higher margin specialty patch categories such as CNS, pain and hormone spaces under several successfully commercialised and hard-to-make formulations such as Rivastigmine, Buprenorphine, Fentanyl and fertility control patches.
The completion of the acquisition is extremely encouraging for Luye Pharma, as it fully represents the core of Luye Pharma's globalization strategy -- leveraging on M&A, R&D, brand marketing and world-class quality control capabilities to keep pace with development within both Chinese domestic and global markets. Luye Pharma's future on the road towards globalization and into broader markets will be accelerated. The company will also continue to serve and promote human health through professional technology, working to develop Luye Pharma into one of the most respected leading global pharmaceutical enterprises in the world.
The global market sales of transdermal patches reached over 5 billion Euros in 2014, and is expected to hit 6.4 billion Euros by 2020, with a projected compound annual growth rate greater than 4%1. The global market for TDS business is huge with strong growth potential. An ageing population will be accompanied by a similar increasing trend in chronic diseases, which is a key application area for TDS treatments. In emerging markets like China, there are currently 260 million2 people suffering from chronic diseases, and presents a substantial market for TDS business. Moving forward, Luye Pharma will explore new market expansion opportunities for the TDS business by fully leveraging its experience and expertise in the Chinese market.
At the same time, Luye Pharma will continue to learn and adopt practices from the integration of its acquired business. With its mature sales network and international presence in many developed markets around the world -- especially the European region -- this will help Luye Pharma in the market launch of more innovative products in the future. In addition, the TDS business, with its advanced R&D systems and high quality factories with an EU GMP certificate and certification from the U.S. FDA, will greatly help Luye Pharma in the constant pursuit of meeting and exceeding international standards in production, quality control and global operations.
Luye Pharma is a leading Chinese pharmaceutical enterprise driven by innovation and primarily focuses on therapeutic areas such as Central Nervous System, Oncology, Cardiovascular, and Metabolic diseases. Since inception, Luye Pharma has adopted innovation and globalization as its core growth drivers. As one of the pioneering Chinese pharmaceutical enterprises to have conducted clinical trials in international markets, Luye Pharma currently has 5 innovative products at various stages of clinical research with significant breakthroughs in the U.S.
Whitepaper of China's Health Care by The State Council Information Office of People's Republic of China issued on December 26th, 2012
About Luye Pharma
Luye Pharma Group Ltd. focuses on developing, producing, marketing and selling innovative pharmaceutical products in four of the largest and fastest-growing therapeutic areas -- oncology, cardiovascular, metabolism and the central nervous system. The Group has a portfolio of 30 products in the market and 21 product candidates in China and 7 product candidates overseas, among which 5 candidates have entered into the clinical trial stage in the United States under U.S. FDA rules.
The Group has established production facilities and research and development centers in China as well as offices in the U.S., Malaysia and Singapore with over 3,400 employees, including over 300 R&D personnel. The Group's products are marketed and sold in a vast majority of provinces, autonomous regions and municipalities in the PRC, as well as a number of foreign countries and regions. The Group's nationwide sales and distribution network enable it to sell its products to over 10,000 hospitals in the PRC.
On July 9th, 2014, the shares of the Company were listed on the Main Board of the Stock Exchange of Hong Kong Limited. Over the past 22 years, the Group has grown into an international pharmaceutical group with market leading position in its key therapeutic areas. With the corporate value of "Professional Technology Serves Human Health" and the corporate philosophy of "Customer Orientation, Efficiency, and Employee Achievement", the Group is committed to providing high quality pharmaceutical products and professional services for customers and patients. More information on www.luye.cn.
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SOURCE Luye Pharma Group Ltd.