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Tag: drug

  • Ecmoho Pharmacie plans US$100 million IPO

    Ecmoho Pharmacie plans US$100 million IPO

    Chinese online pharmacy Ecmoho is seeking to list on the New York Stock Exchange in order to raise US$100 million for expansion.

    According to sources cited by Bloomberg, the IPO may take place as early as this year.

    The company has declined comment on the matter and sources say the exact timing and the target to be raised may yet change.

    Based in Shanghai, Ecmoho distributes supplements and pharmaceuticals online. As well as selling direct it has stores on JD and Alibaba’s platforms.

    Ecmoho launched in 2002 as an online marketing service, transitioning into e-commerce in 2006, before sharpening its focus on the health sector in 2011. It sells products from domestic manufacturers and global brands.

    Besides Mainland China and Hong Kong, the company operates in the US, Europe and Asia Pacific.

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  • Sigma chairman Resigns after remuneration protest

    Sigma chairman Resigns after remuneration protest

    Brian Jamieson, chairman of Sigma Healthcare, has said he intends to step down within the next 12 months after shareholders protested the remuneration report at Sigma’s annual general meeting on Wednesday.

    Shareholders delivered an 18 percent vote against the report during the meeting, while also opting to re-elect Jamieson, as well as David Manuel, as directors.

    The vote signalled shareholders’ frustration over Sigma’s decision to reject a takeover offer by rival healthcare business Australian Pharmaceutical Industries, as well as a protest against the remuneration report itself, which included bonuses for board members in a year that has seen Sigma’s share price fall from 80 cents per share in June 2018 to 53 cents per share.

    “This has been a defining year for Sigma,” Jamieson told shareholders at the business’s AGM.

    Over the course of the year, Sigma walked away from a supply contract with Chemist Warehouse Group, causing a major fall in the business’s share price hasn’t been recovered.

    Sigma also walked away from the proposed merger with API, which Jamieson told shareholders was “somewhat opportunistic, with Sigma at its most vulnerable” after dropping the Chemist Warehouse Group supply contract.

    “To agree to proceed may have been the easy decision, but our detailed analysis supported our view that it was not the right decision for mid to long-term shareholder value,” Jamieson said.

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  • Welcia drugstore offers new instore brands

    Welcia drugstore offers new instore brands

    A new Japanese drugstore, Welcia-BHG, offers brands previously not available in Singapore. It is a JV between Japanese pharmacy and drugstore chain Welcia and BHG Holdings, a department store chain that has seven outlets in Singapore.

    On level one of the BHG department store in Bugis Junction, the 2700sqft (250sqm) store has two zones, health and beauty, and offers more than 7000 products. There is also a pharmacy.

    Of the roughly 700 Japanese products offered, 100 are new to Singapore. They include Kanebo’s cult skincare line Suisai, Q&P Kowa Gold vitamins, Vantelin topical analgesics, Vegie slimming products and nailcare serum Dr Nail.

    More products will be added over time, says Welcia-BHG MD Tadahisa Matsumoto, including over-the-counter Japanese drugs.

    Japan has 1695 Welcia stores averaging 8000sqft, some of which are open 24 hours.

    Matsumoto says Singapore consumers will particularly appreciate the store’s skincare offerings formulated for Asian skin as well as sensitive skin. “Like Japan, Singapore is experiencing an ageing population, so healthcare needs are growing,” he says.

    The store also offers services such as simple health checks, skin analysis and product recommendations. The sales staff will receive regular training by experts from Japan instead of representatives from individual brands.

    Plans are also in place for a second outlet at Northpoint City mall. “We hope to have about 20 stores in Singapore in five years,” says Matsumoto, who sees Singapore as the main starting point for expanding the concept into Southeast Asia.