Jamieson Acquires Brand Franchising Rights in Mainland China

YONGAN Pharmaceutical announced that its holding subsidiary, Wuhan Meishen, signed the “Terms and Conditions of Product Sales Transfer in China Region” with Jamieson (Shanghai). The expiration date of the distribution agreement signed between these two companies is extended from December 31, 2022 to March 31, 2023. After the expiration of the distribution agreement, Jamieson will take back Wuhan Meishen’s franchising right in mainland China and repurchase the tangible and intangible assets formed by Wuhan Meishen over the years of operation. Thus, Jamieson will pay a total amount of RMB 47.77 million yuan (USD $6.67 million) to Wuhan Meishen for the transition period. (Source: finance.eastmoney)

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