LEO Pharma is taking a giant leap into the Chinese market by establishing an affiliate with the ambition of eventually becoming the leading dermatological company in China.

The new company, LEO Pharma China, will market LEO Pharma's comprehensive portfolio of high-profile and patent protected drugs for the treatment of the chronic skin disease psoriasis and other dermatological products (pharmaceuticals for the treatment of skin diseases).

LEO Pharma's leading psoriasis brand, Daivobet, has just been approved by the Chinese authorities and can now be marketed in China.

LEO Pharma's new company in China underpins LEO Pharma's long-term global strategy of providing patients that suffer from psoriasis with the best topical treatments possible.

Poul Rasmussen, chairman of the Board of LEO Pharma and of the sole shareholder, the LEO Foundation says,

"This is an interesting opportunity for LEO Pharma. We will be bringing our global knowledge of dermatology and comprehensive portfolio within high-profile, topical psoriasis drugs and other dermatological products into the new LEO company and out to the Chinese market for the benefit of the Chinese patients."

The setting-up of LEO Pharma China must be regarded as a long term investment for the LEO Group, says Gitte Aabo, CEO and president of LEO Pharma. "The project in China can lead to significant investments for LEO Pharma, but the earnings potential in one of the fastest growing markets for pharmaceuticals can also be huge in the long term."

LEO Pharma is an independent research-based pharmaceutical company with headquarters in Ballerup, Denmark. LEO Pharma is wholly-owned by the LEO Foundation and is a leader within the strategic focus areas of Dermatology and Critical Care.