SEE:iX Biopharma enters agreement with Chinese pharmaceutical distributor to tap China market
CRPCG’s parent company, China Resources Pharmaceutical Group is the second largest pharmaceutical manufacturer and one of the three biggest drug distributors by revenue in China.
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“Stock catalysts [are] expected from potential out-licensing deals and [we expect a] six-fold increase in production capacity by FY2022,” he says. “We remain confident in the growth prospects of the company. Partnership with one of the leading pharmaceutical groups in the competitive Chinese market is testament to the value iX is able to bring to the industry,” he adds. As at 11.07am, shares in iX Biopharma are trading flat at 25.5 cents.