Dx&Vx’s entry to Chinese market is expecting to create synergy with Coree
Dx&Vx, a microbiome-based bio-healthcare solution company, is establishing its subsidiary in China to enter the Chinese market.
On the 9th, Dx&Vx announced that it plans to establish a wholly-owned subsidiary in Beijing, China.
Dx&Vx plans to establish its own online and offline distribution networks in the Chinese market through its subsidiary. At the same time, it is expected to create synergy between the networks of local affiliates in China, Beijing Hanmi Pharm, Coree China, and Dx&Vx's Chinese subsidiary.
Lim Chong-yoon, the largest shareholder of DX&VX, served as the Chairman (chairman of the board) of Beijing Hanmi Pharm. Lim has led the growth of company through R&D, multiple clinical trials with large hospitals, expansion and diversification of sales channels. He also laid the foundation for a stable settlement in the Chinese market.
Dx&Vx is already supplying infant healthcare products to the Chinese market using the network established by Coree Group in China. By signing a strategic MOU with Jointown Pharmaceutical Group, the largest pharmaceutical and medical device distribution company in China, it has been preparing to supply various products, including in vitro diagnostic medical devices, to the Chinese market.
In particular, it is known that it plans to launch and distribute microbiome-based self-branded healthcare services and various functional cosmetics in China. Thus, it is expected to further reinvigorate the Chinese business.
Park Sang-tae, CEO of Dx&Vx, said, “We will secure growth and profitability in both domestic and Chinese markets by teaming up with our own distribution network in China. We expect that we will be able to serve as a gate to China through exchanges with domestic companies that are in need of business expertise and know-how.”
Source: The Asia Business Daily