History - 1970s
Advance Pharmaceutical, formerly known as Dang Ling (?|1c) was founded by Mr. Lam Yiu Cho and Mr. Lee Yin Kwong more than three decades ago in Hong Kong. In the early days, the Company was principally engaged in the manufacturing and trading of Liniment Oil, which primary function was to relieve aches and pains in muscles and tendons. Following the change in government regulations, the founders seized the opportunities emerged in the pharmaceutical industry and expanded the company to a licensed pharmaceutical manufacturer and distributor. By 1978, APC was formally established and was licensed to sell up to 700 products in Hong Kong.
As the Company grew and increased its foothold in the market, APC continued to invest in technologically advanced machineries and sought opportunities for expansion, either by organic growth or through acquisitions and partnerships. In 1983, APC acquired 60% of Loyal Advance Limited (¡§LAL¡¨), a trading company which held several licenses to key top selling drugs which the Company viewed would assist it in increasing its penetration in the generic drug market. After the acquisition, LAL was transformed from a trading company into a pharmaceutical manufacturer. The Company continued to focus and grow its OEM manufacturing business and distribution of licensed products.
The 1990s was a period of relative affluence in Hong Kong and Pearl Delta River as Southern China experienced one of the fastest economic growth and highest elevation in standard of living. With higher disposable household income and an increased awareness of healthcare and well-being, consumers began to place value on brand names, reputation and quality over prices.
Capitalizing on this trend, the Company decided to refocus its business strategy by developing its own branded products, rather than purely manufacturing OEM pharmaceutical products for local drugstores.Based on market knowledge and proprietary data-mining, it was able to launch with success, several drugs bearing its own brand. Wellbranded products typically enjoy higher profit margins and have higher customer loyalty. With the commitment of providing high quality pharmaceutical products to consumers, in 1993 APC started exploring the idea of meeting the international pharmaceutical standards of Good Manufacturing Practices (GMP).
Today - The New Millenium
Over the years APC has evolved from a drug trading company, to a pharmaceutical manufacturer, and now, to a leading Asian-based pharmaceutical company with a vertically integrated platform: research & development, to manufacturing, design, marketing, sales, logistics and distribution.
Today, APC has successfully established a leading presence in Southern China. Several of its drugs command leading market share in Hong Kong and Southern China. While it continues to manufacture OEM drugs for drug stores and companies, its long-term vision is to be a competitive leader with a brand development platform to continuously develop and create innovative and superior drugs to meet the needs of today¡¦s increasingly health-conscious consumers. To meet its objectives, the Company has invested more than USD 10 million in developing a state-of-the-art production facility in Tai Po Industrial Estate, New Territories, Hong Kong. This new GMP plant was in full operation in April 2003 with advanced machineries and equipment from Germany.