- October 31, 2022
- Published in MelodyInter
PETALING JAYA: Pharmaniaga Bhd today signed a memorandum of understanding (MoU) with JDMAS Commerce Sdn Bhd to commercialise Pharmaniaga’s over-the-counter (OTC) and subsequently pharmaceutical products in China through JD.com with the support of JDMAS.
JDMAS, the official partner of JD.com, China’s largest and the world’s third largest online retailer was established and recognised by various agencies such as Malaysia Trade Development Corp, Ministry of International Trade and Industry and supported by Malaysia China Business Council and Malaysia Digital Economy Corp Sdn Bhd. JDMAS is the only Malaysia National Pavilion recognised by the Malaysian government and holds key account or flagship store status by JD.com.
Through this MoU, JDMAS will be partnering with Pharmaniaga to register, import, distribute and market Pharmaniaga’s OTC and other healthcare products in China.
JDMAS will also support the group in terms of regulatory advisory services, commercial trade and supply chain operations for the China market.
Pharmaniaga group managing director Datuk Zulkarnain Md Eusope said the collaboration between Pharmaniaga and JDMAS is part of its strategy to enter the China market, especially in consumer and wellness business.
“We aim to build a strong and sustainable business partnership that benefits both parties. Expansion into the international markets has always been one of our business goals, and we have paved our ways to make our presence felt in the South East Asian countries, the Gulf region and Europe market.
“The collaboration is between Pharmaniaga and JDMAS, the official Malaysian partner of JD.com, China’s biggest online company by revenue. By having this collaboration, Pharmaniaga will be able to access China’s population of 1.412 billion people. We will be tapping on a very huge market, thus it will be a huge potential of growth for Pharmaniaga products. This is also part of the group’s international foray, especially in China that has almost 570 million JD.com users,” he said.
Zulkarnain said to kick-start this initiative, the group plans to initially list its star OTC products – Citrex Vitamin C, Citrex Gummies, Baraka, Habbatus Sauda, Sweet Royale and also other OTCs products in the Malaysian Pavilion of JD.com by January 2023 and leverage on extensive technology-driven platforms provided by JD.com and its affiliates such as Douyin, Kwaishou and WeChat.
“JDMAS will be collaborating with Pharmaniaga to plan the products placement in the JD.com platform, through advertising campaigns, customer surveys, brand ambassadors and other various marketing strategies,” he said.
The collaboration between Pharmaniaga and JD.com is expected to increase the current revenue of the star OTC products by 100% to 150% in the first year, with expected revenue projection to reach an estimated US$30 million by 2025 with other products being introduced in the JD.com platform.