China Pioneer Pharma : VOLUNTARY ANNOUNCEMENT AND BUSINESS UPDATE EXCLUSIVE LICENCE IN RELATION TO ZANIDIP PRODUCTS

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CHINA PIONEER PHARMA HOLDINGS LIMITED

中 国 先 鋒 医 药 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 01345)

VOLUNTARY ANNOUNCEMENT AND BUSINESS UPDATE

EXCLUSIVE LICENCE IN RELATION TO ZANIDIP PRODUCTS

China Pioneer Pharma Holdings Limited (the "Company", together with its subsidiaries, the "Group") announces that, Pioneer Pharma (Hong Kong) Co., Limited, a wholly-owned subsidiary of the Company, has entered into a licence and supply agreement (the "Agreement") with Recordati Ireland Limited ("Recordati Ireland"). Under the Agreement, the Company is being granted, among others, the exclusive marketing, promotion, distribution and selling rights with respect to Recordati Ireland's Zanidip 10mg 7 Tb and Zanidip 20mg 7 Tb products (collectively, the "Zanidip Products") in mainland China. Subject to the terms and provisions of the Agreement, the Agreement shall remain in force until 31 December 2025, renewable on mutual consent of the parties.

The Group actively seeks prospective product candidates for marketing, promotion and sales from overseas pharmaceutical and medical device companies. The entering into of the Agreement demonstrates the Group's long term strategy in continuing to develop its product portfolio. The Group currently has a product portfolio of pharmaceutical products and medical devices covering several medical specialities areas, including the treatment of hypertension. The Group expects to continue to leverage on its current distribution network and marketing channels to launch new products. It is expected that the Group's exclusive rights to market, promote, distribute and sell the Zanidip Products under the Agreement will create synergy with the Group's existing businesses and provide the Group with the chance to generate further revenue.

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THE PRODUCT

According to public information, Zanidip® (lercanidipine) is an antihypertensive calcium channel blocker and is available in more than 100 countries. Lercanidipine has the effect of gradually lowering the blood pressure values, avoiding the episodes of reflex tachycardia and reducing the risk of cardiovascular events and their related mortality. Its lipofilicity and high selectivity are properties which render lercanidipine effective with a tolerability profile. Due to its organ protection characteristic and metabolic neutrality, lercanidipine is tolerated by patients suffering from such other diseases as diabetes and nephropathy.

Recordati Ireland is the owner of the Zanidip Products and a third party independent of the Company and not a connected person (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited) of the Company.

THE COUNTERPARTY

Recordati Ireland is a corporation organized and existing under the laws of Ireland and is a subsidiary of Recordati S.p.A., a pharmaceutical company listed on the Italian Stock Exchange (ticker: REC). The Recordati group operates in a wide and differentiated field which comprises primary and specialty care, self-medication and rare diseases. Headquartered in Milan, Italy, the Recordati group has operations throughout Europe, Russia, Turkey, North Africa, the United States of America, Canada, Mexico, some South American countries, Japan and Australia.

THE GROUP

The Group is a comprehensive marketing, promotion and channel management service provider dedicated to imported pharmaceutical products and medical devices in the People's Republic of China. The Group's product portfolio includes ophthalmology, pain management, cardiovascular, respiratory, gastroenterology, immunology, orthopedics and other therapeutic areas and a range of medical devices covering various medical specialties, including ophthalmology, odontology and wound care.

By order of the Board

China Pioneer Pharma Holdings Limited

LI Xinzhou

Chairman

Hong Kong, 10 August 2020

As at the date of this announcement, the directors of the Company are Mr. LI Xinzhou, Mr. LUO Chunyi and Mr. LUK Chi Shing as executive directors, Mr. WU Mijia and Mr. HUI Lap Keung as non-executive directors and Mr. ZHANG Hong, Mr. XIAO Guoguang and Mr. WONG Chi Hung, Stanley as independent non-executive directors.

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