AXM extends Sunkist range in China
produced by Supplement Sciences, which will henceforth be marketed
under the Sunkist brand.
The products will be distributed in China by Zuellig Xin Xing.
AXM Pharma now has 10 vitamin and nutritional supplements marketed in China under the Sunkist trademark.
The initial range of products will include vitamins and supplements for children. This market in China is currently valued at $ 750 million, according Financial Insight Magazine, and is expected to grow steadily due to the promotion of preventive medicine and self-treatment.
AXM Pharma and Sunkist Growers entered into an agreement in March, granting AXM the exclusive rights to use the Sunkist brand name and trademark for its vitamin and vitamin supplement products in China.
AXM were also given a right-of-first-refusal to use the brand name for these products in territories in Asia where there is no licensee.
Sold in more than 50 countries, Sunkist branded products generates more than $2 billion in annual sales.
AXM is focusing its marketing efforts on China because it is one of the fastest growing OTC markets in the world. A recent IMS (Shanghai) China Market Analysis shows that the country's OTC pharmaceutical market is currently valued at approximately $2.5 billion and is forecast to grow to approximately $4 billion in 2005. This represents an annual growth rate of about 30 percent.
New legislative initiatives and the accelerating pace of development in the Chinese retail pharmacy sector also substantiate the expectations for growth.
