AlphaRx, Inc., the pharmaceutical developer using a proprietary, site-specific nano delivery technology to reformulate FDA approved drugs to offer significant medical and commercial improvements, announced today plans to list the Company’s China-focused Canadian subsidiary on an exchange in Canada.
This move by ALRX will effectively create two public companies, one consisting of developed markets, and one for emerging markets like Asia.
With an array of products for multiple pharmaceutical markets, from inflammation to pneumonia and stroke, ALRX is well-positioned to capitalize on this strategic shift to a structure composed of two independent units which will be better able to address the unique needs of their related target markets.
President and CEO of ALRX, Michael Lee, noted that the separation into two entities would allow for a greater degree of focus from each, while producing enhanced opportunities and increased intrinsic value due to improved capacity to narrowly focus managerial efforts, thus delivering better results to the shareholders of each company.
Lee also made it clear that the move would enable each company to compete more effectively within its particular market and benefit from the increased efficiency, owing to the ability to optimize goals for the business as well as ongoing research initiatives or capital requirements.
Current President of AlphaRx China, Ruby Hui, will fill the role of President and CEO in the newly listed company, with Marcel Urbanc leaving his job as CFO of AlphaRx Inc. to take up the CFO position within the newly formed company.
The overarching objective then is to create two companies, each with a distinct management team. The Company plans to release additional data regarding the eventual management structure(s) as the plan progresses.
According to Ruby Hui, the listing will create a specialty pharmaceutical company tasked with the objective of turning $100M annually within 5 years, a task no doubt aided by the booming Chinese pharmaceutical market, which is projected to expand at a rate of 22% annually within that same time frame, making it the world’s third largest pharmaceutical market by just 2013.
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