Fangsheng Pharmaceutical(SH:603998) Shang Hai Zheng Quan Bao·2025-10-09 18:58Core Viewpoint - Hunan Fangsheng Pharmaceutical Co., Ltd. has signed a contract with Liao Ning Yifan Pharmaceutical Co., Ltd. to acquire the marketing authorization for "Compound Dexamethasone Cream," which includes ownership of the drug formula, production process, technical secrets, and related patents and data [2][11]. Group 1: Transaction Overview - The company has entered into a technology transfer contract to acquire the marketing authorization for "Compound Dexamethasone Cream" [2]. - The transaction does not constitute a related party transaction or a major asset restructuring, and it is within the approval authority of the chairman, thus not requiring board or shareholder approval [2]. - The transfer fee is structured in three phases, with 30% payable within five working days of signing, another 30% upon completion of production site change, and 40% after receiving the approval notice from the drug review center [8]. Group 2: Market Situation - There are 103 companies in China that have obtained production licenses for "Compound Dexamethasone Cream" [3]. - The sales figures for the cream in physical pharmacies were 175 million yuan in the first half of 2025 and projected to reach 429 million yuan in 2024 [3]. - The global market sales for dexamethasone formulations were approximately $1.198 billion in 2022 and $1.203 billion in 2023 [3]. Group 3: Impact on the Company - The acquisition aligns with the company's strategy to become a health industry group focused on innovative traditional Chinese medicine, enhancing its product pipeline and potentially providing new profit growth points [11]. - The addition of this dermatological product category is expected to strengthen the company's market competitiveness and facilitate industry chain integration and expansion [11].