Background – Opportunities by introducing Pharmaceutical Product in HK

With increasing interaction between Hong Kong and China’s healthcare industries, Hong Kong has received support from both the Central Government of China and the Hong Kong Government in promoting its healthcare services within the mainland China market, and in particular within the Greater Bay Area.
In November 2019, the Central Government of China further announced that Hong Kong-registered drugs and common medical devices can now be used at designated healthcare institutions established in the Greater Bay Area by Hong Kong healthcare service providers.
The new measures provide a great opportunity to pharmaceutical product and device manufacturers all over the world. Many products already registered – or which will be registered in the future – in Hong Kong may be able to enter the mainland China market as a test without going through the existing complicated and lengthy drug registration process. It comes therefore as no surprise that we are witnessing an increasing number of applications for pharmaceutical-related registrations, licences and permits in Hong Kong at this time.

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Trading Companies

If a company wishes to introduce a pharmaceutical product into Hong Kong, very likely it will need to apply for a Wholesale Dealer Licence due to the legal requirement that any entity involved in the local distribution (including import or export) of pharmaceutical products in Hong Kong must hold a valid Wholesale Dealer Licence.

Logistics Companies

Transform and expend your business model to become one of the 3PL Pharma Service provider. One of the major requirements is that the Wholesale Dealer Licence holder must provide designated storage facilities for storing the pharmaceutical products. For companies which do not have their own storage facilities, it is permissible to lease the facilities as long as certain requirements are satisfied.

ACCOUNTING PLUS PHARMA

Every segment of the pharmaceutical supply chain from manufacturing, the wholesale, and to the retail to the general public, is subject to licensing control under the Department of Health. Accounting Plus’s application service will include the following: