JETEMA announced on the 17th that its subsidiary JETEMA Shanghai has signed a distribution and promotion contract for the hyaluronic acid (HA) dermal filler "e.p.t.q" with Huadong Medical Aesthetics Biotechnology (Huadong Ningbo), a specialist distribution corporation in China.
Hyaluronic acid fillers are injectable medical devices that provide effects such as reducing skin wrinkles, improving contours (increasing volume), moisturizing, and maintaining elasticity.
The total amount of this contract is 43.9 billion won ($30.45 million). According to the agreement, Huadong Medical Aesthetics will exclusively distribute and promote the product in China for five years after its launch as the official importer of e.p.t.q. Huadong Medical Aesthetics is also a partner of JETEMA for botulinum toxin in China.
The company stated, "Huadong Medical Aesthetics is the number one seller in the Chinese aesthetic market and is a specialist in beauty distribution that signed an exclusive distribution agreement for filler products in China with LG Life Science in 2013."
JETEMA expects that the e.p.t.q product will receive approval in China within the first half of this year. The company aims to achieve sales of over 40 billion won from e.p.t.q in China.
A company official noted, "This contract has significant implications as it marks JETEMA's establishment of a corporation and full-scale entry into China, a major global beauty market, and we will promote JETEMA widely in the local area with e.p.t.q."