June 21, 2017
CMIC HOLDINGS Co., Ltd.
CMIC HOLDINGS Co., Ltd. (hereinafter referred to as “CMIC”) and Shanghai Fosun Pharmaceutical Development Co., Ltd., a wholly owned subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (hereinafter referred to as “Fosun Pharma”), reached agreement to establish a joint venture to provide services to support approval of generic pharmaceuticals in People’s Republic of China (PRC).
This joint venture named CMIC (Suzhou) Pharmaceutical Technology Co., Ltd., with registered capital of 20,000,000 RMB, will be located at Suzhou Biobay, China. The investment ratio among CMIC HOLDINGS Co., Ltd., CMIC (Beijing) Co., Ltd. and Shanghai Fosun Pharmaceutical Development Co., Ltd. are 26%, 25% and 49% respectively. The joint venture will focus on business areas of drug concentration measurements, CRO services for bioequivalence studies and services for medical institutions.
Under the supervision of China Food and Drug Administration (hereinafter referred to as “CFDA”), China is strengthening its efforts to enhance the quality of pharmaceutical products. CFDA mandates pharmaceutical companies to submit bioequivalence evaluation materials for 289 types of generic drugs by the end of 2018, and hinted that the number of targeted products may increase. Currently, Chinese pharmaceutical companies are submitting self-inspected products for reexaminations, demand is rapidly increasing for high quality and highly reliable services for bioequivalence studies.
Therefore, CMIC and Fosun Pharma will establish a joint venture focused on the operation of bioanalysis labs as well as bioequivalence study centers to contribute to improving pharmaceutical product quality in China. Furthermore, CMIC wishes to seize this opportunity to expand its Chinese business by providing high-quality Japanese services.
About Shanghai Fosun Pharmaceutical (Group) Co.,Ltd.Established in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”; stock code: 600196.SH, 02196.HK) is a leading healthcare Group in People’s Republic of China (PRC). Fosun Pharma strategically covers important segments of the healthcare industry value-chain, including pharmaceutical manufacturing and R&D, healthcare services, medical devices and medical diagnosis, as well as pharmaceutical distribution and retail, making contribution to improving people’s health. Fosun Pharma maintains a National Recognized Enterprise Technology Centre and a highly capable international R&D team, focusing on innovation and research of therapeutic areas including cardiovascular system, central nervous system, blood system, metabolism and alimentary system, anti-infection and anti-tumor. With its commitment to innovation for good health and creating a better future, Fosun Pharma will continue insisting on the strategic development approach of “organic growth , external expansion and integrated development”, striving to be one of the leading enterprises in the global healthcare market.
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PR Group, Corporate Communication Department