AFT Pharmaceuticals (ASX: AFP) and RooLife Group (ASX: RLG) have launched a range of AFT’s over the counter (OTC) pharmaceuticals through their store on the China Cross Border E-Commerce (CBEC) online platform Tmall Global.
Further launches are to follow over the next few months. The store, known as the ‘Kiwi Health Global Flagship Store’ was launched in 2020 initially with a trial range of AFT’s health supplements and has since achieved strong support. Now, following its registration under China’s CBEC OTC pilot scheme, which allows AFT and RooLife to sell New Zealand registered medicines to Chinese consumers, the store has become the first New Zealand direct-to-consumer OTC online medicine marketplace on Tmall Global.
The store is now carrying AFT’s trusted portfolio of health and wellbeing products. These include: Vitamin C Lipo Sachet, Vitamin D Lipo Sachet, Ferro Sachet, Kiwisoothe, Crystawash Extend, Loraclear hay fever relief, and Histaclear non drowsy allergy relief.
As part of this two-phase launch, AFT will extend its OTC medical product portfolio, which will include its patented Maxigesic pain relief medication and five additional OTC medicine products.
The Kiwi Health Global Flagship Store offers a significant growth opportunity for AFT. We are excited to be the first New Zealand company to be approved for the CBEC OTC pilot scheme that launched in 2019,” AFT Pharmaceuticals Founder and Managing Director, Dr Hartley Atkinson, said.
“The Chinese market for OTC medicines is the world’s second largest behind the US and is growing rapidly. In 2020 it was worth US$16.3 billion and it is now expected to reach US$22.7 billion by 2023, as the Chinese population ages and becomes more focussed on healthcare. Additionally, well over 58% of those sales occur online.
“The Kiwi Health Global Flagship Store aims to leverage the strong brand awareness of AFT’s product range, the high regard and demand for New Zealand products in China and the low numbers of OTC products approved on Tmall Global.
“Our initial health supplements trial has already secured a strong following since its launch, and we are delighted to reach more consumers in China with the launch of our OTC range which will be rolled out in stages over the next few months. We also believe the store will further assist us in amplifying our online presence in the world’s largest e-commerce market.”
As China’s largest cross-border marketplace, Tmall Global is the premier channel through which overseas brands and retailers can reach Chinese consumers, build brand awareness, and gain valuable consumer insights in forming their overall China strategy, without the need for physical operations in that country.
