Huonland, a joint venture between Huons and Beijing Northland, said that it has granted exclusive sales right in China for its hyaluronic acid (HA) eyedrop 0.3 percent to Shanghai Ocumension.
|Huonland CEO Xu Song Shan (seated at left) and Shanghai Ocumension CEO Liu Ye signed a sales agreement at Huonland’s headquarters in Beijing, on Monday.|
The artificial tear market in China continues to grow by 20 to 25 percent annually due to environmental reasons, including air pollution and external causes such as the accumulation of eye fatigue due to the increase in the use of electronic devices.
Under the accord, Huonland will be responsible for the production and quality of the disposable HA artificial tear formulation, while Shanghai Ocumension will market the drug in China.
Shanghai Ocumension is a company with abundant infrastructure and networks in China in the areas of eye disease research, drug development, and sales. Also, the company plans to continue in-depth discussions on the introduction and sales of new products developed by Huonland.
"We are delighted to have a cooperative relationship with Huonland, which has established a world-class good manufacturing practice (GMP) management system and bio-pharma sterilizer automated production line," Shanghai Ocumension CEO Liu Ye said. "We will pioneer the Chinese disposable artificial tear market through our rich network and experience, along with Huonland's excellent products."
Huonland CEO Xu Song Shan also said, "Based on the agreement, we will be able to introduce quickly sterile and antiseptic disposable artificial tears produced at Huonland's state-of-the-art facilities throughout China from next year."
The company will try hard to receive approval for the various eye drop products currently under development and strengthen its position in the Chinese artificial tear market, Xu added.