PharmaResearch to pursue joint venture with Chicmax Cosmetic in China

PharmaResearch has signed a Memorandum of Understanding (MOU) with Chicmax Cosmetic (CCM), a major Chinese cosmetics group, to expand the presence of Rejuran Cosmetic in the Chinese market. The two companies plan to pursue the establishment of a joint venture (JV) to facilitate local market integration.

Moving beyond the previous model of simply supplying finished products, the partnership will focus on developing products tailored to local Chinese consumers and enhancing brand utilization. The specific business structure and scope of cooperation are expected to be finalized within this year.

CCM, established in 2002, is a leading brand management company in China with annual revenues of approximately 9.178 billion yuan (roughly 1.9 trillion KRW). PharmaResearch is pursuing a dual localization strategy: securing manufacturing infrastructure through the acquisition of CG USA in the United States, while collaborating with local experts like CCM in China for R&D and brand operations.