Pharmco Ventures into Services Industry
March 16, 2002: Pharmco International, Inc announced today that they will be launching a services group to provide pharmaceutical consulting and distribution services within the People’s Republic of China.
Pharmco spokesperson stated, “we want to introduce and bring value added pharmaceutical and OTC consumer products that are available in other countries to the Asian population…Chinese pharmaceutical industry is sometimes one to two generations behind from a technology perspective. The Chinese and Asian population does not, in many cases, have access to the latest ethical drugs and consumer products that other countries do. We want to be able to bring “western medicine” to the Asian market to better the lives of the people.”
Pharmco’s services group will be providing consulting and distribution services to pharmaceutical companies that want to expand into the Asian marketplace. These services will be available in China in July of 2002 and will spread throughout Asia starting in 2004.
The consulting services will include product registration/government approval consultation, market consultation and distribution consultation. Product registration/government approval consultation involves the steps and procedures in getting a product approved for sale by the Chinese Ministry of Public Health either as an over the counter drug or a prescription drug. Market consultation is a study of the target market to determine who to launch to product to, where to launch the product and how to inform the market of the product. Distribution consultation is centered around how to get the product to market via the distribution network in China.
The distribution services involve Pharmco assuming responsibility for the product going to market. They will register the product, determine the target market, get the product in distribution and advertise for the product.
For more information, please visit Pharmco International, Incorporated atwww.pharmcousa.com.
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