COMPLEMENTARY medicines company Swisse has been hit by regulatory changes in China, with parent company Biostime International yesterday telling the Hong Kong Stock Exchange sales for the three months to 30 Sep were down 15.7% year on year, due partly to significant destocking by pharmacy retailers in Australia.
The update said despite major shifts in buying patterns in both China and Australia, the company's market share in vitamins here had remained stable at 17.1%, while Swisse also maintained its top position in the healthcare category for sales on China's Alibaba online platforms.
Biostime chairman Luo Fei revealed that Swisse plans to expand its Chinese operations into offline channels early next year.
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