Biohit Oyj press release 5 June 2017 at 9:30 am. local time (EEST)
Biohit Oyj and Chinmax Medical Systems Inc. have signed an agreement for the distribution of the Acetium lozenge in China. The agreement has been signed for a preliminary period of seven years and includes an option and a letter of intent for a joint venture arrangement and local production if the sales targets set out in the agreement are met.
The Acetium lozenge can be used to bind carcinogenic acetaldehyde in saliva to a harmless compound during smoking and to promote oral health. Acetium lozenge has been found to be effective in smoking cessation in a clinical trial.
CEO Kevin Shangyu Yue, Chinmax Medical Systems Inc.:”Our company has long experience in doing business in the healthcare market, where we have a wide and diverse distribution channel and international brands. We are very honored to represent Biohit Acetium lozenge in China. The product supports our portfolio and we believe it has a growing demand in China. In China, the state has sought to reduce tobacco smoking through taxation as well as measures restricting advertising and access to cigarettes, and smoking cessation products have a growing market in our country."
CEO Semi Korpela, Biohit Oyj: "With this new agreement, Chinmax Medical Systems Inc will be distributing Acetium lozenge in China, which is an important market for us. Our new partner cooperates with more than 3,000 hospitals, smoking cessation clinics and respiratory disease clinics. The product registration process has been started."
Additional information:
CEO Semi Korpela, Biohit Oyj
tel. +358 9 773 861
investor.relations@biohit.fi
www.biohithealthcare.com
Biohit in brief
Biohit Oyj is a globally operating Finnish biotechnology company. Biohit mission is “Innovating for Health” – we produce innovative products and services to promote research and early diagnosis. Biohit is headquartered in Helsinki, Finland, and has subsidiaries in Italy and the UK. Biohit Series B share (BIOBV) is quoted on Nasdaq Helsinki in the Small cap/Healthcare group. www.biohithealthcare.com
Chinmax in brief
Chinmax was founded in 1996 as a healthcare trading company in China. By more than 20 years' development, Chinmax has built up high reputation through the long-term partnership with global leading medical and healthcare supplies. By sales and marketing innovation, Chinmax has established professional nationwide sales & logistic channels, sophisticated end-user service network, as well as leading market position in its focused areas in China. www.chinmax.com