HONG KONG, Dec. 14, 2020 /PRNewswire/ -- Regent Pacific Group Limited ("Regent Pacific" or the "Company" and together with its subsidiaries, the "Group"; stock code: 0575.HK), a specialist healthcare, wellness and life sciences investment group is pleased to announce that Orient EuroPharma Co., Ltd. ("Orient EuroPharma"), the Group's commercial strategic partner for Taiwan, Hong Kong, Macau and some other countries and regions in South East Asia has received the marketing authorisation approval for Taiwan from the Taiwan Food and Drug Administration ("TFDA"). This is the final regulatory approval process required for the marketing, distribution and sale of Fortacin™, a solution to premature ejaculation, in Taiwan.
Pursuant to the licence agreement with Orient EuroPharma, Regent Pacific will receive a payment of US$300,000 (approximately HK$2.34 million) from Orient EuroPharma.
Jamie Gibson, Chief Executive Officer of Regent Pacific, said, "We are delighted to see this important milestone in achieving the approval to market Fortacin™ in Taiwan. We anticipate that Fortacin™ will be launched in Taiwan, Hong Kong and Macau in 2021. We will continue to work closely and diligently with our current and prospective commercial partners and will keep shareholders and potential investors informed of any new developments as and when they occur."
About Regent Pacific (Stock code: 0575.HK)
Regent Pacific is a diversified investment group based in Hong Kong currently holding various corporate and strategic investments focusing on the healthcare, wellness and life sciences sectors. The Group has a strong track record of investments and has returned approximately US$298 million to shareholders in the 23 years of financial reporting since its initial public offering in May 1997.
About Fortacin™
Fortacin™ is the first solution to premature ejaculation (PE) that does not act on the central nervous system and offers bona fide therapeutic efficacy that has been validated through extensive clinical trials in Europe, with over 23,500 doses delivered to trial participants. The solution is a topical spray containing low doses of lidocaine and prilocaine that take effect almost immediately upon application, giving users more control without reducing pleasure. Fully approved by the European Medicines Agency (EMA), Fortacin™ is now available in France, Germany, Italy, Portugal, Spain and the UK.
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