BGM Group and Jointown Deepen Cooperation, Ushering in a New Era of Pharmaceutical Development

Rhea-AI Summary

BGM Group (NASDAQ: BGM) has strengthened its strategic partnership with Jointown Pharmaceutical Group through a new cooperation agreement focused on licorice fluid extract and Gandixin products. The meeting, led by BGM's Chairman Xin Zhanchang and Jointown's Honorary Vice Chairman Liu Shulin, highlighted the synergies between BGM's R&D capabilities and Jointown's extensive sales network.

The collaboration leverages BGM's subsidiary Qilianshan Pharmaceutical's research and production expertise with Jointown's comprehensive distribution system. Both companies discussed market demand, quality control, and sales channel expansion for licorice-based products, anticipating growing consumer demand for high-quality pharmaceutical products.

Positive

• Secured strategic partnership with leading pharmaceutical distributor Jointown
• Expanded distribution network for licorice-based products
• Enhanced market access through Jointown's extensive sales channels

Negative

• None.

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CHENGDU, China, Dec. 19, 2024 /PRNewswire/ -- BGM Group Ltd. (NASDAQ: BGM) ("the Company" or "BGM"), Mr. Xin Zhanchang, Chairman of the Board of Directors of BGM Group and Chairman of Gansu Qilianshan Pharmaceutical Co., Ltd., led the sales team to visit their long-term strategic partner, Jointown Pharmaceutical Group. They were warmly welcomed by Mr. Liu Shulin, one of the founders and Honorary Vice Chairman of Jointown, along with Vice Chairman Mr. Liu Dengpan and other senior executives. The two sides held a cordial, productive meeting, further consolidating and deepening their strategic partnership. They also signed a strategic cooperation agreement for Qilianshan Pharmaceutical's licorice fluid extract and Gandixin (Compound Licorice Tablets) series products.

Jointown Pharmaceutical Group, as a leading enterprise in China's pharmaceutical industry with the most extensive sales network, focuses on Western medicine, traditional Chinese medicine, and medical devices. It is committed to providing medical institutions, wholesale companies, and retail pharmacies with pharmaceutical products, logistics, and other value-added services. Meanwhile, BGM Group has demonstrated exceptional performance in the research, development, production, and operation of its "Qilianshan" brand pharmaceutical products. The long-standing partnership between the two companies stems from their outstanding achievements in their respective fields and a shared commitment to development philosophies.

Over the years, BGM Group and Jointown have demonstrated a high degree of synergy in several areas. First, in product research, development, production, and sales, Qilianshan Pharmaceutical, a subsidiary of BGM Group, leverages its strong R&D capabilities and advanced production technologies under the "Qilianshan" brand. Combined with Jointown's comprehensive sales network and logistics distribution system, BGM's products have gained widespread recognition and acceptance in domestic and international markets. Second, BGM Group's rigorous quality testing system ensures product safety and quality. Both companies share a commitment to customer service excellence, offering comprehensive after-sales support and prioritizing consumer satisfaction. Lastly, in market expansion and brand building, the two companies maintain close collaboration, enhancing the influence of both the BGM and Jointown brands.

During the meeting, the two parties engaged in in-depth discussions on market demand, quality control, and sales channel expansion for licorice-based products. They agreed that as the pharmaceutical industry continues to evolve, consumer demand for high-quality, high-efficiency pharmaceutical products will grow significantly. Both companies are dedicated to driving product innovation and quality improvement to meet the diverse needs of the market.

In the presence of both teams, BGM Group and Jointown signed a strategic cooperation agreement for the licorice fluid extract and Gandixin (Compound Licorice Tablets) series products. This agreement marks a new milestone in their collaboration in the pharmaceutical sector, particularly in licorice-based products, with injecting strong momentum into their future development. Both parties reaffirmed their commitment to maintaining a close partnership and contributing to the prosperity and advancement of the pharmaceutical industry.

This successful meeting between BGM Group and Jointown Pharmaceutical Group not only further solidified their strategic partnership but also paved the way for broader opportunities for future cooperation. Together, BGM Group and Jointown are poised to create an even brighter chapter in the pharmaceutical industry.

Attendees of the meeting included Mr. Gong Li, Vice President of Jointown; Ms. Zhang Meiqin, General Manager of the Active Pharmaceutical Ingredients Division; Ms. Fu Qian, Deputy General Manager of Jiuxin Clinic under Jointown's Health Group; Mr. Liu Hui, Deputy General Manager of Quanqing Health; Mr. Wang Xiaoyan, Deputy General Manager of the Group Procurement Division; and Ms. Liu Yingmei, Sales Director of BGM Group.

About BGM Group Ltd
BGM Group Ltd,headquartered in Chengdu, China, is an innovative company dedicated to the fields of biopharmaceuticals, bio-extraction, and medical health. Our current product range includes oxytetracycline APIs, licorice preparations, and crude heparin sodium. The oxytetracycline API not only provides raw materials for pharmaceutical companies to produce human antibiotics but also supports the global breeding and livestock industries to ensure the safety of poultry and seafood. The crude heparin sodium, after processing by downstream companies, is transformed into refined heparin sodium and heparin sodium injection solutions, which are major anticoagulants. Licorice preparations, such as compound licorice lozenges, are used as cough suppressants and supplied to retail pharmacies. For more information, visit the Company's website at: https://www.bgmgroupltd.com/

Forward-looking Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For investor and media inquiries, please contact:
info@qiliancorp.com

View original content:https://www.prnewswire.com/news-releases/bgm-group-and-jointown-deepen-cooperation-ushering-in-a-new-era-of-pharmaceutical-development-302336104.html

SOURCE BGM Group Ltd

FAQ

What products are covered in the BGM-Jointown strategic agreement?

The strategic cooperation agreement covers BGM's licorice fluid extract and Gandixin (Compound Licorice Tablets) series products.

How will the Jointown partnership benefit BGM's distribution?

The partnership provides BGM access to Jointown's comprehensive sales network and logistics distribution system, enhancing market reach for their pharmaceutical products.

What is the focus of BGM's collaboration with Jointown?

The collaboration focuses on product research, development, production, sales, quality control, and market expansion for pharmaceutical products, particularly licorice-based items.

What are the key synergies between BGM and Jointown?

The key synergies include BGM's R&D and production capabilities combined with Jointown's sales network, shared quality commitment, and collaborative market expansion efforts.