Hisamitsu Pharmaceutical to set up sales unit in Malaysia
KUALA LUMPUR, NNA - Hisamitsu Pharmaceutical Co. will set up a subsidiary in Malaysia to independently promote sales of its flagship Salonpas pain-relieving patch and other products.
The Japanese drugmaker said in a statement on Friday that its wholly owned subsidiary, Hisamitsu Pharmaceutical Malaysia Sdn. Bhd., will be established in October.
Hisamitsu currently sells its products in Malaysia through an import agent.
Salonpas, Hisamitsu's globally popular over-the-counter pain-relieving patch, alone generated 33 billion yen ($300 million) in sales in the last fiscal year through February 2019, with overseas sales accounting for about 66 percent of total sales.
The company hopes to raise Salonpas overseas sales by 18.5 percent to 25.8 billion yen in the current fiscal year through February.
Hisamitsu's overseas subsidiaries are located in Vietnam, Indonesia, mainland China, Hong Kong, the United States, Britain and Brazil. (NNA/Kyodo)