Australian biotechnology company Cellmid has signed a distribution agreement with Taiwan’s largest pharmacy chain Maywufa.
Maywufa will retail Cellmid’s évolis® brand products, containing patented FGF5 hair loss inhibitor, across its retail network of 200 stores and 5,000 international retail points in drug stores, general practitioners and hospitals.
In addition to its pharmacy franchise, Maywufa has three other strategic businesses, including Haircare and Skincare, Medical Devices and Institutional Hospitals divisions.
The deal represents Cellmid’s first private label entry into the estimate US$5bn global hair growth and anti-ageing hair care market.
Utilizing Maywufa’s established and trusted distribution channel is part of Cellmid’s international expansion strategy. The company is said to be in talks with a range of international brand owners to grow its business further.
Maywufa acts as an exclusive distributor or agent to several large pharmaceutical and cosmetics companies representing major international brands as well as manufacturing and marketing products under its own Maywufa brand. The company was founded in 1976 and is based in Taipei, Taiwan.