On February 14, 2022, Shenzhen Beimei Pharmaceutical Co., Ltd. (hereinafter referred to as "Beimei Pharmaceutical") and Dr. Reddy's laboratory Ltd. (hereinafter referred to as "Dr. Reddy's") reached an exclusive license and supply agreement of a pharmaceutical product for the treatment of otic infection (hereinafter referred to as "the product"). Under the terms of the agreement, Beimei will be responsible for the registration, clinical and commercialization of the product in China.

The product has been approved by the US FDA for the treatment of ear canal infections in young children. The introduction of the product will greatly enrich the variety of external otic drugs in China, fill the market blank, and better meet the unmet clinical needs for the treatment of ear canal disease. The product will provide safer and more effective treatment options for susceptible pediatric patients. 

In recent years, with the change of lifestyle, the number of patients with ear diseases caused by bad ear habits, such as sudden deafness, tinnitus, and ear inflammation, is increasing. And hearing damage is difficult to recover once treatment is delayed, so more and more attention is paid to the treatment of ear diseases. Otologic diseases include ear trauma, otitis externa, otitis media, middle ear hydrops, middle ear pearl tumors, hearing impairment, tinnitus, sudden deafness, and eustachian tube obstruction. Among them, children are susceptible to infections of ear canal and they are the high-risk groups of this kind of disease. Nowadays, external otology drugs available on the Chinese market are mainly antibiotics, with old molecules and a single variety, and new therapeutic drugs are still unavailable to Chinese patients. In particular, safe and effective therapeutic drugs for children are insufficient.

According to IMS, the total global market for external otology drugs is about 5 billion yuan in 2020. Compared with developed countries, the domestic market is currently small, with sales of less than 100 million yuan. However, with the improvement of medical level and the growing clinical demand, the treatment of ear diseases has received more and more attention and attention, and it is believed that the market potential of external ear drugs will be further explored in the future.

The cooperation with Dr. Reddy's will speed up the update and development of external otic medicines in China, provide a new clinical treatment protocol for the majority of medical staff, and bring more effective drugs to Chinese children.

Regarding this cooperation project, Ms. Wu Guangmei, CEO of Beimei Pharmaceutical, said“We are very pleased to cooperate with Dr. Reddy's on a pediatric otic medicine, which has been approved by the US FDA for the treatment of ear canal infections in young children , which can fill the clinical gap in China. Dr. Reddy's is a global pharmaceutical company with products and services covering a wide range of therapeutic areas. We are delighted to start the cooperation with Dr. Reddy's in the field of pediatric medicine in China. Both teams are full of confidence and look forward to providing safer and more effective treatment options for Chinese children.”

Mr. Ramana, CEO of Dr. Reddy's India and Emerging Markets, said "Dr. Reddy's has been providing high-quality generic medicines to the Chinese market for more than 20 years. This external medicine for otology is an effective medicine for the treatment of acute otitis media and acute otitis externa. Doctors currently have limited options for treating both diseases, and Dr. Reddy is the only generic drug company to develop the drug, which has also been approved by the U.S. Food and Drug Administration. This is consistent with our mission and vision of bringing more high-quality generic drugs into China. We believe that the cooperation between Reddy and Beimei is a very correct choice.”

Mr. Shais Kema, General Manager of Dr. Reddy's China, said“ Shenzhen Beimei is an excellent company focusing on the development of children's medicines. We are honored to cooperate with Beimei to jointly introduce Dr. Reddy's products into China Quality medicine. This cooperation project is of great significance. It is a breakthrough in innovation and business model for Dr. Reddy’s, and it is also another milestone for our business development in China. We expect this drug to enter China as soon as possible to bring clinical benefits to more Chinese children, because "Good health can't wait, 健康不能等待."

About Dr. Reddy's

Dr. Reddy's is a global pharmaceutical company with products and services covering a broad range of therapeutic areas. The company has expanded its business in 56 countries around the world, covering pharmaceutical services and APIs, global generics, patent products, and biosimilars. Dr. Reddy's started the business in China in 2000 and has more than 20 years of experience. The company is the largest multinational importing generic drug company in China. Nowadays, the Chinese business has expanded to major cities in 30 provinces across the country, with more than 200 channel distributors, and the main products are listed in the drug reimbursement list. The products are sold in 5,700 hospitals, of which 980 are tertiary hospitals. In addition, the company has established offices or branches in Shanghai, Beijing, and Guangzhou.

About Beimei Pharma

Beimei pharmaceutical focuses on the field of pediatric prescription medicines in China, aiming to become a new pharmaceutical enterprise integrating research and development, licensing in, production, and sales. Beimei takes in-house research and development and international licensing-in as its strategic direction. At present, the product pipeline covers the respiratory system, anti-infection, nervous system, digestive system, and other fields. Beimei is committed to providing convenient, accurate, excellent taste and high-quality products for Chinese pediatric patients.