UPC - Universe Pharmaceuticals announces strategic alliance with Kitanihon

Universe Pharmaceuticals (NASDAQ:UPC) entered into a strategic cooperation agreement and associated ancillary agreements with Kitanihon Pharmaceutical, a Japanese company engaged in the research, development, manufacturing, and distribution of Kampo pharmaceutical and medical products. The purpose of the agreements is to address market demand for Kampo medicine and high-end traditional Chinese medicine Pursuant to the pact, the company and KP agree to exchange equity interests in each other's company and, as previously disclosed, jointly build a new manufacturing facility in Ji'an, Jiangxi Province, in accordance with the market access requirements from the Japan's Pharmaceutical and Medical Devices Agency. The Company will appoint a director to KP's board of directors to directly participate in the management of KP. The Chief Executive Officer of KP, Nishimura Ichiri, will be named as Foreign Expert of the Company. The Facility, once built, will principally serve as a production facility for Kampo medicine and high-end TCM products.

For further details see:

Universe Pharmaceuticals announces strategic alliance with Kitanihon