10 May 2012 07:00
Cathay International Holdings Limited
("Cathay" or the "Company")
Cathay's subsidiary Changchun Botai granted the first ever production license for medical collagen injectable filler in the PRC
Hong Kong, 10 May 2012 - Cathay International Holdings Ltd. (LSE: CTI.L), an investment holding company and a leading investor in the growing healthcare sector in the People's Republic of China ("PRC"), today announces that its wholly-owned subsidiary, Changchun Botai Pharmaceutical and Biotechnology Company Limited ("Changchun Botai"), has been granted the first ever production license in China to manufacture medical collagen injectable filler by the State Food and Drug Administration of the PRC. The medical collagen filler will be marketed under the brand name "Fillderm" in the PRC.
Medical collagen fillers are classified as Class III Medical Devices (General Controls and Premarket Approval) in the PRC. Changchun Botai is the first domestic company in the PRC with approval to manufacture medical collagen injectable filler. Fillderm is a high purity collagen protein used in cosmetic surgery and for repairing skin deficiency, erasing wrinkles, removing pit scars and contouring.
Changchun Botai is preparing for the launch of Fillderm on the Chinese market, expected by the end of 2012. The aesthetic products and equipment market in China was estimated at US$100.2 million in 2011 and should reach a projected US$151.6 million in 2014 (source: Medical Insight, Inc), representing a CAGR of 14.8%.
Mr. Jin-Yi Lee, Chief Executive Officer of Cathay International Holdings commented: "Today's news represents a significant milestone for Changchun Botai, Cathay's first investment in the healthcare sector in the PRC. We believe that the launch of our high quality Fillderm products will be well received given the growing demand for aesthetic products in China."
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For further enquiries, please contact:
Cathay International Holdings Limited Eric Siu (Finance Director) Patrick Sung (Director and Controller) |
Tel: +852 2828 9289 |
M:Communications Mary-Jane Elliott / Amber Bielecka / Claire Dickinson |
Tel: +44 (0)20 7920 2330 |
About Cathay
Cathay International Holdings Limited (CTI.L) is an investment holding company and a leading investor in the growing healthcare sector in the People's Republic of China ("PRC").
Taking advantage of the strong and growing domestic demand for high quality healthcare products in China, Cathay aims to identify investment opportunities with emphasis on high growth healthcare markets and build them into market sector leaders, with a clear exit strategy. Cathay has already demonstrated a strong track record of identifying high-growth potential investment opportunities in this area including: Lansen Group, China's leading specialty pharmaceutical company focused on rheumatology and Haotian Group, a company engaged in the manufacture, marketing and sale of key active ingredients for healthcare products, including dietary supplement inositol. To complement its healthcare portfolio, Cathay has a research and product development business focused on bringing new products to the growing Chinese market.
The Group employs more than 2,000 people across the PRC, including over 30 specialist corporate and business development staff based at the holding company's offices in Hong Kong and Shenzhen. Cathay also has a private equity investment arm focused on minority investment opportunities and a hotel investment. For more information please visit the Company's website: www.cathay-intl.com.hk.