Universe Pharmaceuticals INC Enters into Letter of Intent for Strategic Cooperation with Kitanihon Pharmaceutical Co., Ltd.
May 25 2021 - 8:00AM
Universe Pharmaceuticals INC (the “Company”) (Nasdaq: UPC), a
pharmaceutical producer and distributor in China, today announced
that the Company entered into a letter of intent on April 23, 2021
(the “LOI”) for strategic cooperation with Kitanihon Pharmaceutical
Co., Ltd. (“KP”), a Japanese company engaged in the research,
development, manufacturing, and distribution of pharmaceutical and
medical products.
Pursuant to the LOI, both parties agree to
jointly establish a flagship store on global.jd.com, a popular
e-commerce platform in China offering overseas products. The
Company agrees to operate the flagship store as an exclusive
distributor to sell KP’s products. The Company will distribute KP's
products across the Chinese and Southeast Asian markets through
international e-commerce channels, to create growth opportunities
for both parties. In addition, both parties agree to jointly
establish a medical product research and development center (the
“Center”) to be named Universe Hanhe Medical Research Institute
Co., Ltd. The Center will receive favorable policy treatment from
the Chinese government. The Company will utilize its R&D
capacity and medicinal resources, and KP agrees to employ its
quality control standards and advanced technologies into the
development of medical products.
As part of the LOI, upon achieving specific
strategic goals, both parties will agree to jointly build a new
manufacturing facility (the “Facility”) in accordance with the
market access requirements from Japan’s Pharmaceutical and Medical
Devices Agency (PMDA). Both parties will work together to ensure
the Facility will be recognized as qualified foreign manufacturer
of pharmaceutical products and make it a PMDA certified Chinese
medicine brand.
Mr. Gang Lai, Chairman and CEO of Universe
Pharmaceuticals INC, commented, “We are excited to entered into the
LOI for strategic cooperation with KP. Taking advantage of the
opportunity of our listing on Nasdaq, we look forward to starting
our comprehensive cooperation with KP. We expect to create a
China’s ‘Medicine Valley’ and make it a gathering platform for the
healthcare industry.”
About Universe Pharmaceuticals INC
Universe Pharmaceuticals INC, headquartered in
Ji’an, Jiangxi, China, is a pharmaceutical producer and distributor
in China. The Company specializes in the manufacturing, marketing,
sales and distribution of traditional Chinese medicine derivatives
products targeting the elderly with the goal of addressing their
physical conditions in the aging process and to promote their
general well-being. The Company also distributes and sells
biomedical drugs, medical instruments, Traditional Chinese Medicine
Pieces, and dietary supplements manufactured by third-party
pharmaceutical companies. Currently, the Company’s products are
sold in 30 provinces of China. For more information, visit the
company’s website at http://www.universe-pharmacy.com/.
Forward-Looking Statements
All statements other than statements of
historical fact in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company’s registration statement and in its other filings with the
SEC.
For more information, please contact:
Ascent Investors Relations LLCTina
XiaoPresidentPhone:
917-609-0333Email: tina.xiao@ascent-ir.com
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