Profex Receives $15.5 Million Venture Capital Investment
This article was originally published in PharmAsia News
Executive SummaryProfex, China's first international dermatology firm, received its first round of venture capital worth $15.5 million from Trident Capital and its China partner Mustang Ventures. The new fund will help it penetration into the fast-growing consumables retail market. Profex differs from other domestic pharmaceutical companies in its business model; by acting as a professional drug agency for the world's top pharmaceutical companies, it has exclusive sales rights for China. The firm has established long-term strategic partnerships with Galderma, GlaxoSmithKline, Roche and Bristol-Meyers Squibb, with full responsibility for products' marketing. Industry insiders said that Profex, with over 30 percent of the local dermatology market share and sales exceeding RMB 1 billion, will list in the U.S. when the timing is right. (Click here for more - Chinese Language)
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