From left: Pharmaniaga Group executive director Zulkifli Jafar, JD.Com commercial country manager Elvin Lim, Pharmaniaga group managing director Datuk Zulkarnain Md Eusope, Pharmaniaga chairman Datuk Seri Zainal Abidin Mohd Rafique, JDMAS managing director Datuk Bruce Lim, JDMAS executive director Desmond Ng and JDMAS project director Eizaz Azhar
PETALING JAYA: Pharmaniaga Bhd
has tied up with JDMas Commerce Sdn Bhd to commercialise its over-the-counter (OTC) and subsequently pharmaceutical products in China through the digital platform, JD.com.
Under the memorandum of understanding (MoU) signed, JDMas, the official partner of JD.com, will register, import, distribute and market Pharmaniaga’s OTC and other healthcare products in China.
“The collaboration between Pharmaniaga and JDMas is part of our strategy to enter the China market, especially in consumer and wellness business.
“Through such a move, Pharmaniaga will be able to gain access to China’s population of 1.4 billion, which is a very huge market.
“Thus, there will be a huge potential of growth for Pharmaniaga products,” said Pharmaniaga group managing director Datuk Zulkarnain Md Eusope yesterday.
He added JDMas would also support the group in terms of regulatory advisory services, commercial trade and supply chain operations for the China market.
As an official partner of JD.com, JDMas is China’s largest as well as the world’s third biggest online retailer.
JDMas is the only Malaysia National Pavilion recognised by the government and holds key account or flagship store status on JD.com.
Zulkarnain added that by January 2023, its star OTC products like Citrex Vitamin C, Citrex Gummies, Baraka, Habbatus Sauda, Sweet Royale and others would be the first to be listed in the Malaysian Pavilion of JD.com.
Pharmaniaga also has plans to leverage on technology-driven platforms provided by JD.com and its affiliates such as Douyin, Kwaishou, and WeChat.
“It is not an easy feat to penetrate the China market especially pharmaceutical products as China is also a big pharmaceutical supplier.
“However, we believe that with JDMas’ established logistics and distribution network in China, as well as the authenticity of Pharmaniaga’s products having passed through all the necessary certifications, this foray will become a success.
“We have more than 300 stock keeping units that will be marketed in China,” he said.
The partnership is expected to raise the current revenue of the OTC products by 100% to 150% in the first year.
Revenue is projected to reach an estimated US$30mil (RM142mil) by 2025, with other Pharmaniaga products being introduced on the JD.com platform.
The MoU was inked between Zulkarnain and JDMas managing director Datuk Bruce Lim.
The signing was witnessed by Pharmaniaga chairman Datuk Seri Zainal Abidin Mohd Rafique and Malaysia China Business Council executive director Datuk Yong Teck Shing.
