Skinvisible targets China with polymer delivery technology
According to Skinvisible, the agreement will allow the company to license the exclusive rights for the Invisicare range within the approved territories.
The licensing agreement means that RHEI will increase its existing range of products available in this region by marketing and manufacturing Skinvisible Invisicare products there.
Targeting huge market growth
Through this agreement, Skinvisible is targeting huge market growth for dermatology products that are categorized as pharmaceutical drugs in China and its territories.
Indeed, in 2007 the market for pharmaceutical drugs was estimated to be worth $22.6bn in 2007 and is estimated to continue to grow at an annual rate of 20 percent if market conditions remain steady.
Skinvisible CEO Terry Howlett said, “We continue to implement our strategy to pursue an accelerated expansion worldwide of licencees for our dermatology formulations enhanced with Invisicare.”
All about synergies
Howlett went on to explain that the agreement would allow the company to tap into RHEI’s regulatory expertise, marketing capabilities, and distribution channels with the targeted market.
Last month Skinvisible and active ingredients specialist Cambrex joined forces with the aim of bringing new acne treatments to market.
The joint venture aims to combine Skinvisible’s Invisicare technology and a benzoyl peroxide (BPO) manufactured by Cambrex in a new line of over-the-counter acne formulations.
The agreement will involve a significant research and development project between the two companies, which will also see them sharing the marketing responsibilities for the new line.
Skinvisible has focused its business on providing proprietary formulations for a wide range of pharmaceutical and cosmeceutical products, as well as providing a number of solutions for a range of skin care products.