Strategic Move to Build a Proprietary Medicine Portfolio with Regional Recognition
HONG KONG, Dec 13, 2016 - (ACN Newswire) - Jacobson Pharma Corporation Limited ("Jacobson Pharma" or the "Group"; Stock Code: 2633), a leading company engaged in the research, development, production, marketing and sale of generic drugs and proprietary Chinese medicines, today announces the acquisition of 100% interest in a Target Group (comprising "Karen Pharmaceutical Company Limited", "Vincents Pharma Trading Company Limited", and "Ho Chai Kung Medicine Manufactory Limited") which carries a heritage household brand, Ho Chai Kung, at a total consideration of HK$568 million. This acquisition, along with the Group's recent acquisition of Medipharma Limited back in October 2016, represents a major step forward in relation to Jacobson Pharma's strategic roadmap to reinforce their already strong position in the proprietary medicine market segment.
The Target Group offers a wide range of branded medicines under the Ho Chai Kung franchise in the OTC channel, notable ones include Ho Chai Kung Tji Thung San and Ho Chai Kung Analgesic Tablets. The brand name of Ho Chai Kung was originated in the 1930's and has been enjoying a high brand awareness and a strong market position in the analgesics (pain-killer) category in Hong Kong, China and South-East Asia markets.
Ho Chai Kung is a well-known OTC brand that enjoys a strong market position and high brand awareness in the pain-killer segment thus offering Jacobson Pharma a viable platform to build a family of OTC products under the Ho Chai Kung brand franchise. It also opens a new set of opportunities for Jacobson Pharma to expand its geographical reach by leveraging its already strong market presence in proprietary medicines portfolio which carries brands like Po Chai Pills, Tong Tai Chung Woodlok Oil, Contractubex Scar Gel and Doan's Ointment.
Ho Chai Kung has a prestigious brand reputation and a long heritage in Hong Kong akin to Po Chai Pills. The memorable advertising slogan "Fast pain relief within just five minutes" was once a classic and signature branding campaign back in the 80's.
The Target Group recorded an unaudited net profit after taxation and extraordinary items of HK$35.9 million and HK$38.7 million for the financial year ended March 2015 and March 2016 respectively. The unaudited total assets and net assets of the Target Group as at 31 March 2016 were HK$82.1 million and HK$72.2 million respectively. Upon completion of the acquisition, the Target Companies will become a wholly-owned subsidiary of Jacobson Pharma and the financial results will be consolidated thereafter.
Mr. Derek Sum (岑廣業), Chairman and Chief Executive Officer of Jacobson Pharma said, "The acquisition of Ho Chai Kung brand reinforces Jacobson Pharma's strategy to acquire brands and businesses that provides a sound strategic fit and also complements well with the Group's product portfolios. This strategic acquisition brings together two distinctive businesses with complementary strengths, brands and cultures. It accelerates the growth momentum for our proprietary medicine business and helps create significant operational and financial synergies to the shareholders of the Group."
"The Group expects to enhance its financial profile by benefiting upon the earning visibility of the Target Group and to unlock cost synergies through consolidation of production capacities."
History of Ho Chai Kung 何濟公歷史
保濟丸、何濟公聚頭 雅各臣5.6億購同業 2016.12.13
【星島日報報道】擁有保濟丸品牌的雅各臣（2633），再將藥品老字號「何濟公」收歸名下。雅各臣擬斥5.68億元收購「何濟公」藥廠，交易仍有待股東大會通過。雅各臣主席及行政總裁岑廣業收購「何濟公」藥廠有助加強策略性發展，在市場網絡及產能上發揮協同效應。
雅各臣收購的目標業務，由嘉倫藥業、永生藥業及香港何濟公藥廠組成，主要從事「何濟公」製造、推廣及銷售品牌藥品。產品包括何濟公止痛退熱散及何濟公止痛退熱片。截至今年3月底止，全年除稅及非經常性項目前純利4630萬元，升7.7%。期內收入為8520萬元，升10.8%，資產總值則達8210萬元。
雅各臣主席及行政總裁岑廣業表示，收購「何濟公」藥廠有助加強雅各臣的策略性發展計畫，以積極尋找適合的拓展機會及多元化品牌藥品組合。收購一事有望為股東帶來業務及財務表現上的協同效應，公司預期可通過受惠於目標公司的盈利預見度加強其財務狀況，並預期可通過合併產能釋放成本協同效應。
何濟公品牌源於1930年代，並於香港、中國及東南亞市場的止痛藥類別享有高品牌知名度及重要的市場地位。雅各臣董事會認為收購可為雅各臣提供可行平台，以建立何濟公品牌的非處方藥產品系列。
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