Navigation Links
Wise Sky Highlights Their Disappointment at Emergent's Decision Not to Enter the China Market
Date:9/2/2010

Wise Sky Highlights Their Disappointment at Emergent's Decision Not to Enter the China Market -- SHANGHAI, Sept. 2 /PRNewswire-Asia/ --


Advanced Search Search

  
Close
  1. Send a release
  2. Member sign in
  3. Become a member
  4. For journalists
  5. Global sites
PR Newswire: news distribution, targeting and monitoring
  1. Products & Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
Biotechnology, Health Care & Hospitals, Medical Pharmaceuticals, Pharmaceuticals, Supplementary Medicine, Legal Issues Click to view news release full screen  

Wise Sky Highlights Their Disappointment at Emergent's Decision Not to Enter the China Market

   

Wise Sky (Hong Kong) Limited Suffers Due to Last Minute Pull-out

SHANGHAI, Sept. 2 /PRNewswire-Asia/ -- Wise Sky (Hong Kong) Limited today announced its disappoint at the recent decision made by Emergent BioSolutions not to enter the China market. Wise Sky conducted product promotions and sales of BioThrax, a vaccine produced by Emergent BioSolutions, under the terms of an agreement signed with Emergent BioSolutions on June 3, 2009, and is therefore disappointed and concerned by Emergent BioSolution's decision to not enter the Mainland China market despite having an agreement in place with Wise Sky.

Emergent BioSolutions is a NASDAQ listed company famous for the production of BioThrax, the only vaccine approved by the U.S. Food and Drug Administration for the prevention of anthrax infection. In early 2009, Emergent made clear their decision to enter Asian markets including Mainland China, one of the biggest markets concerned. The vice presidents and other important managers of Emergent then visited China several times, attending meetings and conferences with medicine experts, getting the chance to exchange their thoughts and ideas with China's top professionals and government officers, as a result of efforts and arrangements undertaken by Wise Sky (Hong Kong) Limited. In May 2009, Emergent and Wise Sky signed an exclusive marketing agreement. According to this agreement, Emergent agreed to authorize Wise Sky to sell BioThrax as its representative within the territory of Mainland China.

In China, the major clients for anti-terrorism products are the government authorities, government-funded special departments and the armed forces. Due to the importance of importing the anti-terrorism products, the whole administrative procedure for market entrance is complicated and time-consuming, especially for the vaccine products that require the approval of, and registration in, China's State Food and Drug Administration ("SFDA"). Wise Sky is a professional trading agent who has wide government connections and lots of experience in the sale of medicines and anti-terrorism products. Taking advantage of the good relationship with the government, Wise Sky sought purchasers all around China and successfully reached preliminary purchase intentions with several buyers such as the Bureau of Shanghai World Expo Coordination and the Shanghai Municipal Center for Disease Control and Prevention ("SCDC"). Also, Wise Sky was actively negotiating with the government, trying to expedite the approval process for BioThrax. However, after a long time of waiting and internal discussions, Emergent finally decided against filing BioThrax with the SFDA in early 2010, which ultimately cancelled the marketing agreement, as sales and promotions could not continue. Wise Sky also received a formal letter from Emergent terminating the marketing agreement without any compensation. The letter was dated April 26, 2010.

Wise Sky understands Emergent's decision to not enter the Mainland China market is their own business decision. However, in addition to the loss of orders, commissions and promotion expenses, Wise Sky strongly believes that Emergent's decision damages the name of Wise Sky, in a more profound way, by causing a loss of goodwill in China and jeopardizing the relationship between Wise Sky and China's governing authorities, which Wise Sky spent years to establish and maintain. Wise Sky believes this turn of events will have a negative influence and will further affect the marketing of other anti- terrorism products represented by Wise Sky in Mainland China. Wise Sky extends its disappointment at Emergent's decision not to enter the china market.


'/>"/>
SOURCE Wise Sky (Hong Kong) Limited
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Genta Incorporated Announces Second Quarter 2007 Financial Results and Corporate Highlights
2. Five-Year Data From Taxus II Clinical Trial Highlights Safety and Efficacy of Taxus(R) Stent Compared to Bare-Metal Stent
3. President Clinton Highlights MWW Group at the 2007 Clinton Global Initiative for its Stop Neglected Tropical Disease Campaign
4. Genaera Corporation Provides Highlights of Positive Phase 1 Trodusquemine (MSI-1436) Data from the North American Association for the Study of Obesity Annual Meeting
5. Schering-Plough Highlights PEGINTRON(TM) Clinical Data Presentations at the American Association for the Study of Liver Diseases (AASLD) 2007 Annual Meeting
6. Synvista Therapeutics Highlights New Data Demonstrating the Clinical Benefit of Vitamin E Therapy in Patients Identified on the Basis of Haptoglobin Phenotype Testing
7. Research Highlights Potential Benefits of Telemedicine in Treating Eye Disease
8. Sarasotas Roskamp Institute Highlights Positive Japanese Data that Validates its Ongoing Alzheimers Disease Research
9. Genta Incorporated Announces Fourth Quarter and Year End 2007 Financial Results and Corporate Highlights
10. Schering-Plough Highlights PEGINTRON(TM) and Boceprevir Data Presentations at European Association for the Study of the Liver (EASL) Annual Meeting
11. Schering-Plough Highlights PEGINTRON(TM) and Boceprevir Hepatitis C Data Presentations at Digestive Disease Week (DDW) Annual Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/4/2016)... 2016  The Senior Care Pharmacy Coalition (SCPC) ... Chairman Jason Chaffetz (R-UT) and Ranking ... hearing , "Developments in the Prescription Drug Market," ... questions about abusive pharmacy benefit manager (PBM) pricing ... Ranking Member Elijah Cummings (D-MD) are diligent, serious ...
(Date:2/4/2016)... , Feb. 4, 2016  Montoya Love is recognized ... the field of Pharmaceuticals. Montoya is the Regulatory Systems ... Manufacturing and selling ... Becton Dickinson provides healthcare institutions, clinical laboratories and ... fifty countries across the globe. ...
(Date:2/4/2016)... -- Mettler-Toledo International Inc. (NYSE: MTD ) today ... the highlights: , Sales in local currency ... year.  Reported sales decreased 3% as currency reduced sales ... earnings per diluted share as reported (EPS) were $4.44, ... EPS was $4.65, an increase of 10% over the ...
Breaking Medicine Technology:
(Date:2/6/2016)... ... February 06, 2016 , ... With the FCPX LUT: Summer ... to their footage. A LUT is a Lookup Table that contains a mathematical formula ... indicated by the table. By manipulating each pixel, LUT's can change each color range ...
(Date:2/6/2016)... , ... February 06, 2016 , ... ... of eating disorder treatment helps to reduce the frequency and level of relapse. ... Recovery Phase: Re-Establishing Healthy Identity and Purpose,” will explore the critical tasks of ...
(Date:2/5/2016)... ... , ... Love is in the air at King Kullen! The local grocer ... This staple for Valentine’s Day is a must-have, and can be picked up with ... only are long-stem roses available, but also other flower bouquets, elegantly wrapped and ready ...
(Date:2/5/2016)... ... February 05, 2016 , ... Today, the Whole-Food Warrior ... that the much-anticipated feature with author Jahnavi Foster, specialist in healthy vegetarian cuisine, will ... , Each week, on his weekly Whole-Food Warrior TV show, Frank Davis highlights Whole-Food ...
(Date:2/5/2016)... ... 05, 2016 , ... The event is being held on April 7, 2016 ... Minn. Triumph Over Parkinson’s will fund nearly $100,000 for research for the care and ... Parkinson’s disease and is the architect of this informative event to raise awareness and ...
Breaking Medicine News(10 mins):