Weikang Bio expands into South China
Shanghai. November 23. INTERFAX-CHINA - Harbin-based Weikang Bio-Technology Group Co. Inc. has expanded into South China, signing contracts with provincial sales agents in the Guangxi Zhuang Autonomous Region and Hunan Province, and a municipal agent in Hunan's Xiangtan City, the company announced Nov. 22.
Under the agreements, the company's over-the-counter (OTC) products will be distributed through various retail outlets including pharmacies and health food stores.
The announcement did not disclose the names of the agents.
The company said the two provincial contracts are each expected to add RMB 40 million ($6.02 million) to its annual sales, while the municipal contract is expected to add RMB 20 million ($3.01 million).
The agents began working with Weikang Bio at the beginning of October and have already brought in revenue of RMB 9 million ($1.35 million) for the company.
The new contracts bring the total number of Weikang Bio's sales agents up to eight, the announcement said.
Weikang Bio mainly develops, manufactures and distributes OTC traditional Chinese medicines (TCM), Western prescription medicines, and other health care products for the domestic market. Its sales revenue in the first half was $24.45 million, up 4.89 percent year-on-year.