Stada Arzneimittel has signed a partnership agreement with a unit of Shijiazhuang Yiling Pharmaceutical Co. to sell its cough and cold syrups in China, reported Bloomberg.
The deal will help Stada as it seeks to expand in the country, according to Carsten Cron, the German drugmaker's executive vice president for emerging markets.
"We're playing catch-up in China, but this partnership with Yiling will give us a much-needed boost in the country," said Cron, who joined Stada from Pfizer in 2018.
The partnership will also enable Stada to pursue a strategy in China's e-commerce market for consumer healthcare brands, and for Stada and Yiling Pharmaceutical to jointly develop high-potency raw materials, he added.
In Vietnam, Stada is seeking to boost sales after it recently obtained approval to set up a legal entity there, Cron said, adding its Vietnamese unit will soon start selling prescription and over-the-counter products and plans to collaborate with Pymepharco, a local generic drugmaker in which Stada holds a majority stake.
"We want to become the top player in Vietnam's generic market within the next three years," Cron said.
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