JD Capital-invested Panlong Pharmaceutical Approved for IPO
On September 26, the CSRC said in one of its announcements that Shaanxi Panlong Pharmaceutical Group Ltd. (Panlong Pharmaceutical), a JD Capital-invested company, has been approved for IPO and will soon be listed on the A-share market. The company was founded in 1997, and has since then been dedicated to the R&D, manufacturing and marketing of Chinese patent medicine. Its products are mainly for orthopedic diseases and rheumatism. Others include liver and gall, cardiovascular, gynecological drugs and antineoplastics. But its most competitive product is Panlongqipian, which is exclusive to the company. Listed among category B drugs under national health insurance, it enjoys national patent. Other manufactures are not allowed to copy and produce within the term of patent protection.
Panlong Pharmaceutical currently has the approval certificates for production of 73 drugs under 9 dosage forms. It also produces three varieties of health care products. Its product line is multi-tier, diverse in dosage form, and is sold in 28 Chinese provinces, autonomous regions and municipalities. The company has established long-term stable business relations with more than 300 domestic pharmaceutical companies, through which its products are sold in over 2,000 hospitals and large drugstores nationwide.
The fund ran by JD Capital bought shares of Panlong Pharmaceutical in June, 2012 and holds 30% of its shares prior to IPO.
So far in 2017, 10 enterprises invested by JD Capital have gone or will go public on the A-stock market. They are Panlong Pharmaceutical, Jiudian Pharmaceutical, Chanhen Chemical, Cisen Pharmaceutical, Jinneng Science and Technology, KE Electric, Chengyi Pharmaceutical, Juewei Food, Doctorglasses, and Huida Sanitary Ware.