Milestone Scientific has granted China National Medicines (doing business as Sinopharm) exclusive distribution and marketing rights for the STA (single tooth anesthesia) System in China, the company announced.
Traded on the Shanghai Stock Exchange, Sinopharm is China's largest domestic manufacturer, distributor, and marketer of pharmaceuticals and importer of medical devices, and the country's largest domestic distributor of dental anesthetic carpules to the Chinese dental industry, Milestone noted.
According to Milestone, market research firm Freedonia says that demand for dental products in China is expected to climb 11% per year through 2012 to 21.5 billion yuan ($3.15 billion), driven by the increasing number of Chinese who are using dental products to improve their appearance and the growing popularity of professional dental care.
"Considering that China represents one of the most significant growth markets for the STA System, our efforts to identify an ideal partner in that global region has been especially pronounced," said Leonard Osser, chairman and interim CEO of Milestone, in a press release. "As a result, we are very proud to team with Sinopharm, one of China's noted healthcare leaders, as our exclusive supplier of the STA System and related ancillary handpieces in China."
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