Chindex International, Inc. Announces Exclusive Agreement With Polichem, S.A., a European Based Pharmaceutical Company.BETHESDA, Md.--(BW HealthWire)--July 22, 1998--Chindex International Inc. (Nasdaq:CHDX) (U.S.-China Industrial Exchange, Inc.), the largest independent U.S. distributor of Western healthcare products in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China, Wednesday announced an exclusive agreement with Polichem S.A. (Polichem), for the nationwide marketing, sales and distribution of Polichem's new immunostimulating Polimod pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children. pe·di·at·ric adj. Of or relating to pediatrics. formulation in China. Under the terms of the agreement, Chindex will assume exclusive responsibility for importation, marketing and physical distribution of the product beginning immediately. Polichem is an affiliate of Poli Group, a major manufacturer of chemical-pharmaceutical products with a strong presence in Europe. "We estimate there to be a multi-million dollar market at this time in China for this class of product," said Alessandro Cescut, Intercontinental in·ter·con·ti·nen·tal adj. 1. Extending or taking place between or among continents: intercontinental exploration; intercontinental cooperation. 2. Director of Polichem. "This type of therapeutic stimulation of the immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. is proven effective in children with recurrent respiratory infections Noun 1. respiratory infection - any infection of the respiratory tract respiratory tract infection infection - the pathological state resulting from the invasion of the body by pathogenic microorganisms and in adults with chronic, obstructive obstructive having the characteristic of obstruction. obstructive colic see equine colic. obstructive constipation constipation of sufficient severity as to obstruct the rectum. pulmonary disease. We believe our new Polimod formulation will have an excellent reception in the China market. We will work with Chindex to first address the hospital market, and we are expecting that the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). retail pharmacy markets will be increasingly accessible in the future." "Polimod is a perfect addition to our growing portfolio of specialty pharmaceuticals," Chindex Chairperson, president and chief executive officer Roberta Lipson commented in Beijing. "The overall market in China for foreign drug suppliers is already in the billions of dollars annually. As part of the ongoing reform of the Chinese healthcare system, we are also expecting the establishment of an over-the-counter (OTC) product category in the near future. This OTC designation will usher in Verb 1. usher in - be a precursor of; "The fall of the Berlin Wall ushered in the post-Cold War period" inaugurate, introduce commence, lead off, start, begin - set in motion, cause to start; "The U.S. a tremendous explosion in the mass market for foreign-supplied home healthcare products sold through retail pharmacies. With our early investment in distribution systems to access these market sectors with home health products and drugs such as Polimod, we will be in an exceptional strategic position to take advantage of this emerging market." Dr. Eric Chien, Director of Pharmaceutical Business Development at Chindex commented on the agreement with Polichem: "We will begin targeting the sale of Polimod to the hospital market in five major metropolitan areas in the first year and plan to expand to the twenty top cities by the end of the year 2000. We will also begin marketing and distribution to the retail pharmacy markets in the Shanghai area where Chindex has already begun test marketing and distribution programs for other home healthcare products. We are also negotiating for additional drugs to add to our portfolio which will complement Polimod." Chindex is a leading American company in healthcare in the Greater Chinese marketplace including Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and Macau. It provides representative and distribution services to a number of multinational companies including Acuson, Johnson & Johnson, Kendall Healthcare Products, and Schering AG. It also operates a private hospital corporation in Chinas to Greater China's professional communities. volve risks and uncertainties, including risks associated with uncertainties pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to customer orders, demand for products and services, development of markets for o obligation to release publicly the result of --KM/np* JS/np
CONTACT: Chindex International Inc.
Lawrence Pemble / Robert Goodwin
301/215-7777
KEYWORD: CALIFORNIA
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