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NEWS
Lakeside Strengthens Market Position in China's Pharmaceutical Logistics with Key Sinopharm(Hubei) Contracts
ITASCA, Ill., Nov. 25, 2024 /PRNewswire/ -- Lakeside Holding Limited ("Lakeside" or the "Company") (Nasdaq: LSH), a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market operating under the brand American Bear Logistics ("ABL"), announces that Hupan Pharmaceutical (Hubei) Co., Ltd. ("Hupan Pharmaceutical"), a company recently acquired by Lakeside, has established partnership with Sinopharm Group Hubei Co., Ltd. ("Sinopharm Hubei"). Sinopharm Hubei is a subsidiary of Sinopharm Group Co., Ltd., a leader in China'spharmaceutical industry. This partnership for essential medicine storage, transportation, and logistics services positions Lakeside for accelerated growth and solidifies its foothold in China's medical logistics sector.
Hupan Pharmaceutical's partnership with Sinopharm Hubei underscores the growing demand for specialized logistics and supply chain solutions in China's healthcare market. Through this partnership, Hupan Pharmaceutical will support Sinopharm Hubei's comprehensive pharmaceutical distribution needs, ensuring high standards in storing and transporting pharmaceutical products, including refrigerated and frozen medications, peptide hormones, and other essential medical supplies. This partnership showcases Hupan Pharmaceutical's trusted expertise in the complex clinical supply requirements in oncology, antibiotics, large-volume infusions, and aesthetic medicine.
The acquisition of Hupan Pharmaceutical is anticipated to contribute approximately $7 million in annual revenues for Lakeside. The partnership with Sinopharm Hubei reinforces Lakeside's expanding presence, unlocks new revenue streams, and strengthens its capability to provide high-quality logistics solutions tailored for China's healthcare market. With Lakeside's strategic and technological strengths combined with Hupan Pharmaceutical's established service network, the Company is poised to meet the rising demands of China'spharmaceutical logistics sector.
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