Universe Pharmaceuticals Inc - UPC STOCK NEWS

Universe Pharmaceuticals INC (Nasdaq: UPC) has entered a strategic cooperation agreement with Kitanihon Pharmaceutical Co., Ltd. to enhance its market presence in Kampo medicine and traditional Chinese medicine. The partnership includes equity exchange and the construction of a new manufacturing facility in Ji’an, Jiangxi, aimed at meeting market demands in Japan and Southeast Asia. CEO Gang Lai projects annual revenues of RMB2 billion and profits of RMB260 million within five years post-launch. The facility will significantly boost the company’s capabilities in the pharmaceuticals sector.

Universe Pharmaceuticals reported strong financial results for the first half of fiscal 2021, with revenues reaching $24.3 million, a 48.2% increase from $16.4 million a year earlier. Net income rose to $7.1 million, up 40.9%, and earnings per share increased 37.5% to $0.44. The growth was driven by significant sales volume increases of traditional Chinese medicine derivatives. Despite challenges from the COVID-19 pandemic, the company is optimistic about future growth driven by market share expansion and enhanced supply chain capabilities.

Universe Pharmaceuticals announced it will release unaudited financial results for the first six months of fiscal year 2021 on August 2, 2021, before market opens. The results will be filed on Form 6-K with the SEC. The company, based in Ji’an, Jiangxi, China, specializes in the production and distribution of traditional Chinese medicine and related products aimed at the elderly. Its products are sold across 30 provinces in China, supporting the company’s goal of enhancing the health and well-being of consumers as they age.

Universe Pharmaceuticals INC (Nasdaq: UPC) hosted a reception on July 20, 2021, for Mr. Boli Zhang from the Chinese Academy of Engineering and experts from Tianjin University of Traditional Chinese Medicine. During the visit, Mr. Zhang praised the company's core product, Guben Yanling Pill, highlighting its benefits for kidney function and its potential market growth, especially in Southeast Asia due to the aging population. CEO Gang Lai emphasized intentions to enhance R&D and explore technological cooperation with industry partners.

Universe Pharmaceuticals (Nasdaq: UPC) announced a strategic partnership with Kitanihon Pharmaceutical Co., Ltd. on April 23, 2021. This collaboration aims to establish a flagship store on global.jd.com, acting as an exclusive distributor for KP’s products across China and Southeast Asia. The companies will also create the Universe Hanhe Medical Research Institute, leveraging R&D capabilities and quality control standards. A new manufacturing facility will be built, targeting PMDA certification for pharmaceutical products, enhancing market access for both entities.

Universe Pharmaceuticals INC (Nasdaq: UPC) participated in the West Lake Forum - China Pharmaceutical Industry Development Forum on April 12, 2021. The company showcased its upgraded Guben Yanling Pill, attracting interest from drugstore chains and distributors. The Forum facilitated partnerships with several regional drugstores, enhancing the company's growth potential. Chairman and CEO Gang Lai emphasized the focus on healthcare products for middle-aged and older adults, aiming to elevate the 'Bai Nian Dan' brand as a leading domestic healthcare provider.

Universe Pharmaceuticals (Nasdaq: UPC) announced the underwriter's full exercise of an option to purchase an additional 750,000 ordinary shares at $5.00 per share, generating $3.75 million in gross proceeds. This increases the total shares sold in the initial public offering to 5.75 million and total gross proceeds to $28.75 million. The funds will be allocated for upgrading manufacturing facilities, R&D, marketing, and working capital. The offering was managed by Univest Securities.

Universe Pharmaceuticals announced the successful closing of its initial public offering (IPO) on March 25, 2021, offering 5,000,000 ordinary shares at $5.00 each, raising $25 million gross. The IPO was conducted on a firm commitment basis, with Univest Securities acting as the underwriter. Proceeds will support facility upgrades, research and development, and general corporate purposes. Additionally, the underwriter has a 45-day option to purchase 750,000 shares at the offering price. The shares began trading on Nasdaq under the symbol UPC on March 23, 2021.

Universe Pharmaceuticals has priced its initial public offering (IPO) of 5,000,000 ordinary shares at US$5.00 each, aiming for gross proceeds of US$25 million. The shares will trade on the Nasdaq Global Market under the ticker symbol UPC starting March 23, 2021. The offering closes on or about March 25, 2021, subject to conditions. Proceeds will fund manufacturing upgrades, R&D, marketing, and working capital. Univest Securities, LLC is the underwriter, with a 45-day option for an additional 750,000 shares.