Austrian medical aesthetic products manufacturer Croma-Pharma has established a joint venture with China National Biotech Group Company (CNBG) to market its HA dermal filler Princess Volume and other products in China and Hong Kong.
CNBG and Croma have entered a “far reaching, long-term partnership”, which will introduce Croma’s product portfolio into the Chinese and Hong Kong markets. Croma will bring to the markets its currently approved hyaluronic acid Filler Princess Volume as well as additional filler products and other facial aesthetic products from its portfolio, while CNBG will provide multi-channel distribution, marketing knowledge and other synergistic products, including botulinum toxin product Heng Li, manufactured by CNBG affiliate Lanzhou Biotechnique Development Co.
According to Croma, the aesthetic medicine market in China has seen an average growth of over 20% annually over the past years, leading to an increased demand for safe, high-quality products.
The manufacturer aims to become a comprehensive supplier of minimally-invasive aesthetic products in the Chinese market, making effective use of the existing field force of Lanzhou.
Andreas Prinz, co-owner of Croma, commented: “Croma incorporates more than 40 years of experience in R&D of viscoelastic products. Our fully-automated production lines deliver eight million prefilled injectables per year.
“We are rightfully considered leading European experts in hyaluronic acid. With CNBG, we have found the perfect partner to merge our strengths and assets to successfully enter the fast-growing Chinese market. CNBG’s track-record and experience will heavily support Croma to sustainably prosper in Asia.”
